CNBC’s Jim Goldman on Apple CEO Steve Jobs’ health: Stop the rumors!

“I’ve gone down this road before, and I’m growing tired from it. Unlike so many of you, however, I don’t have a financial horse in this race since my company prevents me from owning any shares in any individual company,” Jim Goldman writes for CNBC. “So my fatigue from the rumor mill must pale in comparison to those of you long on Apple and short on trust right now… Of course, I’m referring to the now nearly daily rumors of whether Apple co-founder and CEO Steve Jobs is suffering from a relapse of his pancreatic cancer. Or some other undisclosed health malady.”

“[Now] the second wave of stories has now begun. How Apple continues to bungle this story. How the company should come clean. How Apple is shirking its fiduciary responsibility by not sharing more details of Jobs’ health. How it’s not the rumor-mongers and shorts who are responsible for their own rumors (hogwash!), but Apple itself for not being more aggressive in dousing them,” Goldman writes.

“Had Jobs been diagnosed with, or suffered from, something that diminished his capacity or precluded him from performing his duties as CEO, the company would be legally — and ethically — bound to disclose it. Common bug, something more serious; it didn’t matter in June because he was still able to perform. And it matters as little today. He can perform. Until he says, or the company says, he can’t,” Goldman writes.

“It’s a classic case of ‘no news is good news.’ Stop the rumors. And stop believing them. Until Apple says something different, or I get my hands on something tangible and trustworthy, I’m taking the company at its word. All the rest is noise and manipulation. And since the SEC doesn’t feel the need to investigate any of this — which is too bad; and since Apple is doing exactly what it should, Apple shareholders are wise to consider this ongoing madness as a risk factor in this stock. At some point, Apple’s massively strong fundamentals will eclipse this garbage,” Goldman writes. “I just don’t know when that will be.”

There’s more in the full article – highly recommended – here.

We’d expect Microsoft to innovate before the SEC as it stands today gets around to investigating rampant, recurring, and blatantly obvious stock manipulation. Bring back the Uptick Rule and remove the shorts’ temptation or nothing will ever stop these rumors about Jobs’ health.


  1. Every stinking time AAPL begins to re-gather some of its old momentum, some asshole comes out with a Job-Is-Dying epiphany, and we’re right back where we started.

    My most fervent wish for 2009 is that someone–anyone–from analyst pool to blogger bog will get prosecuted and sent to prison for this oh-so-obvious manipulation of the AAPL equity.

    I’m with Goldman. ENOUGH ALREADY!

  2. Instead of back-beating the spot fires of stock manipulation rumours and whisper campaigns, Apple must simply and loudly announce that it will, from this day forward, aggressively investigate and demand prosecution for, the publication of any and all unsubstantiated Steve-Jobs-Health rumours that might negatively affect Apple’s stock.

  3. pure fantasy
    So Steve is sitting there arguing with a hedge fund manager who is short aapl. And they are arguing over has appl hit the bottom here or what. “Because the dream is far from over, we did not hit 200 by mistake, and we are not responsible for the money supply you windoze twit”

    Steve yells at his secretary “get me someone @ gizmodo on the phone”


    Hey hedge ass you see that I am dead what did you get 84 hahahahahahahahahahahahahaha

    I say we are at the fucking bottom!!!, and if you don’t go long now I will spend the next decade using my stock trading program to take the other side of every trade you make X10 …… I will short disney if I need to bury your family’s wealth for the next century!!!!

    And not one person who shakes your hand will be allowed in an apple store ….. you wont have a friend with an iq above 75

    and just for fun I just posted your server ip on my secret destroy list, tell your IT team, they aint going home for a month.

    good back @ 86 fuck you


    see its fun, just make stuff up and hit post message just like our friends at jizzmodo

  4. MDN, do you even know what the uptick rule is? It made a difference when the bid/ask spreads were very wide. In this day and age where spreads are a penny or so apart, it matters nothing. Especially for a stock like AAPL which has tremendous volume. Waiting for an uptick will not stop the selling of AAPL shares. Giving people a reason to buy will stop the selling.

  5. There’s been no news of Steve Balmer’s health recently, therefore he must be ill. After all he is overweight, he’s either had or just about to have a heart attack and/or a stroke. I mean, if he was OK then Microsoft would issue a statement wouldn’t they?

    Also, what about Michael Dell. There’s been no word of his health lately so he must be in a coma – it would explain Dell’s recent performance. That said, would anyone notice if he was in a coma?

    Steve Jobs is a great CEO and visionary, probably the greatest. But he didn’t single handedly bring us the iPod, iTunes, the Mac, OS X, any of it. Apple is a company awash with talent and a unique ethos of making both the software and the hardware so they work better together, it takes a huge effort to continually deliver the level of innovation that Apple have achieved, and it’s not just down to Steve. If Steve’s health was such that he couldn’t work then he should be replaced and there would be a statement. I personally hope that day never comes, I think the best thing he can do is to slowly transition his image, which is what they’re probably thinking by having Phil Schiller do the keynote at MWSF, all they need to do is to be open and honest about why they’re doing it. I don’t want to see Steve leave Apple just yet but I don’t believe in the belief that Apple would fall apart if he weren’t there. He will die one day, as will we all, so there has to be a plan for his succession. He might just want to leave of his own accord and enjoy a long and happy retirement, I think he can afford to.

  6. Thank God someone has sense. Apple should start coming down hard on the assholes that deliberately manipulate the stock. Hell, I don’t even care how they do it. Sue them, crush them, assassinate them, whatever. So long as they annihilate this wave of crap about Steve’s health.

  7. Quote:

    Uptick rule

    From Wikipedia, the free encyclopedia

    The uptick rule is a securities trading rule used to regulate short selling in financial markets. The rule mandates, subject to certain exceptions, that, when sold, a listed security must either be sold short at a price above the price at which the immediately preceding sale was effected or at the last sale price if it is higher than the last different price. In 1938, the SEC adopted the uptick rule, more formally known as rule 10a-1, after conducting an inquiry into the effects of concentrated short selling during the market break of 1937.

    The original rule was implemented by Joseph P. Kennedy, Sr., the first SEC commissioner.

    The NASD and Nasdaq adopted their own short sale price tests based on the last bid rather than on the last reported sale.


    From wikipedia:

    A good, interesting read, including the section on increasing calls to reinstate the rule.

  8. The speculation is justified due to:

    (a) Steve’s gaunt appearance in recent months

    (b) Steve’s no-show at Macworld Expo, and Apple refusing to directly address the issue of his health.

    What are we supposed to think?

  9. Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    Is he sick yet…?

    You get the idea. LOL Just wish I could slap the idiot that is behind all this……. Maybe Apple is totally right about some power mongers (M$) are behind the whole Apple clone, Apple Jobs sick, etc thing.

    The FEAR is palpable. ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

    Just a thought.

  10. It is true that Apple’s stock is wildly erratic. It’s part of the image it has for being secretive about its new products. Steve has already mentioned hedge funds as a source for this volatility. I doubt though that there is much that can be done about it.

    Being long on Apple means keeping the stock for years to come. I won’t be selling until I think the company is tanking like Dell. There is no reason to think that based on Apples product line.

    One thing to consider regarding Steve’s handing over the rein. Apple is getting huge. It is more than one computer product. One man cannot run the show by himself and still work efficiently. He needs good people under him and they need to take some of the burden by in day to day operations and in front of the media. It will take a while for the brokers and the media to get that. Remember they still haven’t got the deal with the GAAP financials yet.

  11. Follow the money directly to the SEC and beyond it further directly to Micro$oft and it’s constituents, er…better word…kronies.
    M$’s lack of innovation has come full circle and they are sore losers. Ballmer is a competitive salesman when all is said and done and he will use every tactic
    to avoid the toilet death spiral that Dell is now in. Billions by licencing to 3rd party, but in the end, a complete, modern, well designed hardware/software solution wins in the end.

  12. Apple did NOT say Steve was not going to show up at MWSF. It ONLY said Schiller was doing the Keynote. Steve could sit in the audience. Steve could be invited on-stage by Phil to do a demo. Where are people getting the idea that Steve won’t be there?

  13. But my hairdresser’s gardener’s girlfriend’s therapist said she heard from her cousin’s plumber’s assistant that Jobs was at a restaurant last Monday and ate only one plateful of vegetables and spaghetti with tofu. Everybody knows you’ll die in 2 days if you don’t eat meat 3x a day. Doom!

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