Apple shares rise after NY Times reports CEO Steve Jobs is ‘cancer-free’

“Apple Inc. rose as much as 3.9 percent in Nasdaq trading after the New York Times said Chief Executive Officer Steve Jobs has told associates he is cancer- free, four years after an operation to treat pancreatic cancer,” Connie Guglielmo reports for Bloomberg.

“Jobs told members of Apple’s board that he is dealing with nutritional problems after his cancer surgery, which can lead to weight loss in some cases, the newspaper said, citing people close to him. He had surgery this year to fix a problem that caused the weight loss, the Times reported,” Guglielmo reports.

“Jobs’s health resurfaced as an issue for Apple last month, when the 53-year-old CEO appeared visibly thinner at an event in San Francisco to introduce the newest iPhone,” Guglielmo reports. “If Jobs were to leave for any reason, the stock would plummet 25 percent, said Gene Munster of Piper Jaffray & Co. That would erase almost $37 billion from Apple’s market value.”

“Jobs said Aug. 1, 2004, that he had surgery to remove a cancerous tumor in his pancreas. The form of cancer he had, called a neuroendocrine tumor, can be cured if diagnosed in time, as his case was, he wrote at the time in an e-mail from his hospital bed to employees,” Guglielmo reports. “He took a month off to recuperate and was clad in his trademark jeans and black turtleneck at his first public appearance since the surgery in mid-October 2004 at an Apple store opening in California.”

Full article here.

20 Comments

  1. I don’t have a lot of money to buy shares, but I would like to personally thank all the STUPID investors for letting me grab 2 more shares of AAPL at $148. MORONS, you are. SMART, I am.

  2. If you truly believe in the strength of AAPL, then you have to love these mini “crisis” stories.

    So far, I have done wonderfully. At each “market correction” I have purchased.

    Its a great way to buy into the stock on a quarterly basis (kinda a cost averaging on the way up)!

  3. If this version of events is true, I hope the surgery to correct the weight loss was a success, and wish Steve all the best. But I can’t help but wonder – why did Apple put out the “Steve just has a bug” story?

  4. Makes sense. Pancreatic resection can give you malabsorption because of loss of pancreatic enzymes required for digestion. Depending on exactly how his pancreatic drainage was arranged, he could also have developed a stricture that needed dilatation.

    Does not sound serious.

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