Philip Elmer-DeWitt writes for Fortune, “Whenever Steve Jobs takes a medical leave — and the one announced Monday is his third in less than six years — the question invariably arises: What happens to Apple (AAPL) when he leaves the company for good?”
The stock — to address the immediate concern of investors — will take a hit,” P.E.D. reports. “But Jobs says he is still keeping his hand in the company’s “major strategic decisions,” and if his past medical leaves are any guide, the company — and the stock — will rebound. In July 2004, two weeks before his first operation, Apple reported quarterly sales of just over $2 billion. Tomorrow it is expected to report sales somewhere between $24 and $26 billion.”
P.E.D. reports, “We don’t hear much about the rest of Apple’s leadership team, in part because Jobs casts such a large shadow. But the fact is, he runs a meritocracy and has surrounded himself with some exceedingly able people.”
Full article here.