“Steven P. Jobs has turned Apple into a technology powerhouse — twice. But how much is he worth to the company? If one compares the value of Apple’s revenue streams to the company’s market capitalization, nearly $20 billion,” Rob Cox and Richard Beale report for The New York Times.
“That makes Mr. Jobs’s absence from a coming trade show where he’s historically the keynote speaker worrisome, especially given speculation surrounding his thin appearance this summer,” Cox and Beale report. “The premium that Apple fetches above the fair valuations of its businesses is a measure of investor faith in his ability to stitch Apple together. That’s why questions about Mr. Jobs’s health matter.”
“Apple is worth more than its parts because it has successfully harnessed the convergence and synergies of computers, cellphones and entertainmentr,” Cox and Beale report. “If the man who engineered this harmony were to fall ill, investors might not accord such a high premium. That’s all the more reason for Apple to reassure shareholders with a rock-solid succession plan.”
Full article here.
Cue the ‘Jobs is dying’ articles in 3, 2, 1… – MacDailyNews, December 16, 2008