Gadget blog juices fears over Steve Jobs' health
Gadget blog Gizmodo is causing a stir this afternoon with a new report alleging that Apple has misled the public about the reasons behind its exit from Macworld Expo, claiming Steve Jobs' deteriorating health is to blame for the matter.
The online publication cites a source which has reportedly been "100% correct" when providing information and photographs of unreleased Apple products in the past. This source is now said to have passed on information charging Apple with misrepresenting the reasons behind its pullout from future Macworlds and the cancelation of Jobs' keynote address at next week's show.
"The real cause is his rapidly declining health," the report claims. "In fact, it may be even worse than we ever imagined." An unedited citation from the publication's source reads as follows:
Steves health is rapidly declining. Apple is choosing to remove the hype factor strategically vs letting the hype destroy apple when the inevitable news comes later this spring.
This strategic loss will be less of a bang with investors. This is why MacWorld is a no-go anymore. No more Steve means no more hype. Saying they are no longer needing [MacWorld] is the cover designed by the worldwide "loyalty" department.
Apple declined to comment on the report, which Gizmodo is billing as a rumor that it hopes "is absolutely wrong." Nevertheless, the gadget publication places much of the blame for the reoccurring rumors on the company itself, citing its decision to hold back critical information about the welfare of its chief executive in the past.
A cancer surviver, Jobs underwent successful surgery in 2004 to remove a malignant tumor from his pancreas. Apple, however, remained secretive about the matter until the operation was complete and Jobs sent this email to employees from his hospital bed.
In the years that followed, little concern was expressed over the health of the company luminary given Apple's claims that he had recovered fully from his bout with the deadly disease. Fears were only rekindled with some emphasis early this year when Jobs took the stage at the company's annual developers conference looking uncomfortably frail.
Since then, its been revealed that he underwent a second surgery earlier this year to address a nutrition problem that was contributing to his weight loss. Investor jitters over the matter continued to weigh on Apple shares, however, prompting Jobs to contact the New York Times on his own accord and assure a reporter that the most recent issues were not life threatening and that he did not have a recurrence of cancer.
The subject of who should be privy to information on Jobs' health remains a much debated and dicey subject. While some industry watchers believe the company co-founder's health is a private matter and no one else's business but his own, some Apple investors don't necessarily agree. They say Jobs' sheer value, estimated to be worth more to Apple than any other chief executive in the world, should afford them the right to be informed about material changes to his health.
In a report published last year, financial publication Barron's Magazine suggested that Apple's market cap would instantly bleed $20 billion in value should Jobs abruptly be forced to abandon his leadership role at the company.
Meanwhile, CNBC's Jim Goldman, one of the most outspoken figures on Jobs' health, contacted Apple following Gizmodo's report and was again told that the company's Macworld exit was a result of a trend that has seen the electronics maker scale back on trade show spending and "that the decision had nothing to do with Jobs' health."
"I will say again: if Apple is lying, holding some truth back, manipulating its own stock by manipulating the truth, someone — indeed a lot of people — could be going to jail," he wrote in a piece published just minutes ago. "When Apple's got something material to report, I trust that it will. Meantime, unsourced garbage nuking its shares is just that."
Goldman maintains that Jobs is fine.
The online publication cites a source which has reportedly been "100% correct" when providing information and photographs of unreleased Apple products in the past. This source is now said to have passed on information charging Apple with misrepresenting the reasons behind its pullout from future Macworlds and the cancelation of Jobs' keynote address at next week's show.
"The real cause is his rapidly declining health," the report claims. "In fact, it may be even worse than we ever imagined." An unedited citation from the publication's source reads as follows:
Steves health is rapidly declining. Apple is choosing to remove the hype factor strategically vs letting the hype destroy apple when the inevitable news comes later this spring.
This strategic loss will be less of a bang with investors. This is why MacWorld is a no-go anymore. No more Steve means no more hype. Saying they are no longer needing [MacWorld] is the cover designed by the worldwide "loyalty" department.
Apple declined to comment on the report, which Gizmodo is billing as a rumor that it hopes "is absolutely wrong." Nevertheless, the gadget publication places much of the blame for the reoccurring rumors on the company itself, citing its decision to hold back critical information about the welfare of its chief executive in the past.
A cancer surviver, Jobs underwent successful surgery in 2004 to remove a malignant tumor from his pancreas. Apple, however, remained secretive about the matter until the operation was complete and Jobs sent this email to employees from his hospital bed.
In the years that followed, little concern was expressed over the health of the company luminary given Apple's claims that he had recovered fully from his bout with the deadly disease. Fears were only rekindled with some emphasis early this year when Jobs took the stage at the company's annual developers conference looking uncomfortably frail.
Since then, its been revealed that he underwent a second surgery earlier this year to address a nutrition problem that was contributing to his weight loss. Investor jitters over the matter continued to weigh on Apple shares, however, prompting Jobs to contact the New York Times on his own accord and assure a reporter that the most recent issues were not life threatening and that he did not have a recurrence of cancer.
The subject of who should be privy to information on Jobs' health remains a much debated and dicey subject. While some industry watchers believe the company co-founder's health is a private matter and no one else's business but his own, some Apple investors don't necessarily agree. They say Jobs' sheer value, estimated to be worth more to Apple than any other chief executive in the world, should afford them the right to be informed about material changes to his health.
In a report published last year, financial publication Barron's Magazine suggested that Apple's market cap would instantly bleed $20 billion in value should Jobs abruptly be forced to abandon his leadership role at the company.
Meanwhile, CNBC's Jim Goldman, one of the most outspoken figures on Jobs' health, contacted Apple following Gizmodo's report and was again told that the company's Macworld exit was a result of a trend that has seen the electronics maker scale back on trade show spending and "that the decision had nothing to do with Jobs' health."
"I will say again: if Apple is lying, holding some truth back, manipulating its own stock by manipulating the truth, someone — indeed a lot of people — could be going to jail," he wrote in a piece published just minutes ago. "When Apple's got something material to report, I trust that it will. Meantime, unsourced garbage nuking its shares is just that."
Goldman maintains that Jobs is fine.
Comments
Gadget blog Gizmodo is causing a stir this afternoon with a new report alleging that Apple has mislead the public about the reasons behind its exit from Macworld Expo, claiming Steve Jobs' deteriorating health is to blame for the matter. ...
Or Jobs could be stepping back just because he is tired of this never-ending crap about his health, and the negative effect it has on the stock price and the company as a whole.
I think it's true that if Apple is lying on this that there are serious legal implications, and thus I don't believe the story.
I also think that Gizmodo should be in some serious legal trouble for promulgating this irresponsible junk when it's finally proven false. Those idiots make Rob Enderle look smart and professional in comparison and have been caught recently doing this same kind of un-sourced, unchecked, reporting on issues that strongly affect the price of the stock.
Just shows that you can get teenagers to apologise after they make a mess, but you can't actually get them to stop making the mess.
As far as macworld goes, I will definitely miss Macworld keynotes! but now we can all buy freely around christmas time, and never have to worry about what apple is coming out with in early January!
From:
Date: December 30, 2008 11:37:37 AM PST
To: [email protected]
Cc: [email protected]
Subject: False rumor mongering - Steve Jobs "health is rapidly declining" story TODAY via Gizmodo
Dear SEC enforcement ... It is your responsibility to do something about false rumor mongering. This Gizmodo hit piece is just such a story. The editor later scrambled to edit the post by adding an "allegedly" and replacing "solid source" with "previously reliable" ... but the report was/is blatantly false and damage was done to Apple (AAPL) shareholders (see today's AAPL chart below).
LOL. Did you seriously email that tripe to the SEC?
Apple fanbois are out of control.
He had cancer. He had a radical surgery because of the cancer. He looked like crap the last time he was seen in public. And he doesn't like his health to be made public. I don't know if the story has any validity, but his outlook can't be that great.
LOL. Did you seriously email that tripe to the SEC?
Apple fanbois are out of control.
It's not a "fan boy" issue. If you own Apple stock and some asshat is manipulating the price through irresponsible behaviour and rumour mongering, well... that's against the law, and you have every right to protect your investment by registering a complaint about these guys.
It's not like Giz is a personal web blog or something it's a big concern funded by a large company with a huge readership. They have a responsibility to behave, well responsibly. They don't (by and large) and mostly they get away with it.
Personally, it would make my day to see the thing shut down, but mostly just because of the potty-mouthed writers, the porn and the nastiness. They could easily get into some serious trouble over this though. Dumb jokes and asshat-ery, you can usually get away with. Dumb jokes that cost people millions of dollars, not so much.
Personally, it would make my day to see the thing shut down, but mostly just because of the potty-mouthed writers, the porn and the nastiness. They could easily get into some serious trouble over this though. Dumb jokes and asshat-ery, you can usually get away with. Dumb jokes that cost people millions of dollars, not so much.
Are you for real?
Anyone still holding Apple stock at this stage of the game deserves whatever they get.
Anyone still holding Apple stock at this stage of the game deserves whatever they get.
Exactly. Trying to blame the stock price decline of AAPL on a news story about something that EVERYBODY already knows, which is that Steve Jobs has cancer and is not healthy, while ignoring that Apple is a luxury company during a depression, is frankly moronic.
Are you for real?
Anyone still holding Apple stock at this stage of the game deserves whatever they get.
Well I should hope so, I bought mine at $28.00...
Are you for real?
Anyone still holding Apple stock at this stage of the game deserves whatever they get.
Yes. I am a real person that doesn't like Gizmodo's brand of immature, potty-mouthed, porn-laced "technology reporting."
Also they have started several stupid rumours like this in the last year or so also, and are almost never right about any of their "predictions" anyway.
I've also had emails with two or three of the people who write for the site and it's like reading something my twelve-year old nephew would write. Seriously. I'm not really sure why Gizmodo hasn't been sued for a number of things they have done in the past, but perhaps they were and just kept it quiet.
Exactly. Trying to blame the stock price decline of AAPL on a news story about something that EVERYBODY already knows, which is that Steve Jobs has cancer and is not healthy, while ignoring that Apple is a luxury company during a depression, is frankly moronic.
For the record, the words 'cancer free' were used last summer to assure the board of his good health. But yeah, I think his health overall is suspect.
It is strange that we have not publicly seen Steve in awhile and if he doesn't at least pop-in via video link at MacWorld then I'd give more credit to these reports.
It's not a "fan boy" issue. If you own Apple stock and some asshat is manipulating the price through irresponsible behaviour and rumour mongering, well... that's against the law, and you have every right to protect your investment by registering a complaint about these guys.
It's not like Giz is a personal web blog or something it's a big concern funded by a large company with a huge readership. They have a responsibility to behave, well responsibly. They don't (by and large) and mostly they get away with it.
Personally, it would make my day to see the thing shut down, but mostly just because of the potty-mouthed writers, the porn and the nastiness. They could easily get into some serious trouble over this though. Dumb jokes and asshat-ery, you can usually get away with. Dumb jokes that cost people millions of dollars, not so much.
So by your logic every time AppleInsider posts "Rumors" about unsubstantiated rumors about a new Apple product they should be reported to the SEC?
Rumor sites just like this one can and have moved the stock price.
When it gets personal (as in Steve Jobs health) it's illegal to pass along another rumor because the "rumor" is negative?
If Apples stock is tied that closely to Steve's health then Apple needs to make a public announcement (preferably by Steve Jobs) and stop the rumors.
Anything else by Apple would be irresponsible to the stock holders.
He says that visually there is nothing wrong with him. He looks fine. I asked is he still really thin? His response was No, he definitely is not. but he isn't pudgy in the waist any more, his opinion is that steve is aging. He is 53 about to be 54 years old, he just isn't young looking anymore. He is just thinning out a little with age is all.
He's also a hard core Vegan. Hard to maintain any real body weight when you don't eat real food.
He's also a hard core Vegan. Hard to maintain any real body weight when you don't eat real food.
You have absolutely no idea what you are talking about.
You have absolutely no idea what you are talking about.
LOL, did he offend your messiah?
Steve Jobs is a tool.
LOL, did he offend your messiah?
Steve Jobs is a tool.
Intelligence is subtle; stupidity is obvious.
You DEFINITELY fit in category 2.