Apple board obligated to disclose material changes in Jobs' health

Posted:
in General Discussion edited January 2014
Investment bank Piper Jaffray is assuring Apple investors Friday that the company's leadership would be required to disclose in a timely fashion any changes that would prevent Steve Jobs from maintaining his role as chief executive.



"We believe Steve Jobs commands attention from investors given his high profile as founder of the company and his hands-on approach to Apple's products," wrote analyst Gene Munster. "As such, we believe that Apple's board has a responsibility to disclose any changes that may impede him to continue to serve."



Specifically, Munster cited the nature of Jobs' public appearances and his active participation in the development of products like Macs and iPhones as some of the more noteworthy qualities that make him material to the company.



Similarly, the analyst said, one of the company's most competitive advantages is its executive team as a whole, who "share a collective track record of consistently outpacing their competitors in terms of hardware and software innovation coupled with robust product marketing and financial discipline."



Given his level of involvement and the fact that he is a cancer survivor, Apple shareholders have remained focused on Jobs' capacity to continue to serve as the company's leader.



During Apple's quarterly conference call Monday, chief financial officer Peter Oppenheimer was asked to comment on status of Jobs' health given a news report by the New York Post that renewed focus on the matter. He refused to do so, however, citing the co-founder's right to privacy, which in turn weighed on Apple shares.



Since then, however, the New York Times has reported that Jobs is actively reassuring some of his closest associates that rumors of his health are greatly exaggerated.



Given the due responsibility of Apple's board and the fact that no announcements have been made to date, Munster told clients there is "no reason to believe that Steve Jobs will not continue to serve as Apple's CEO."



As such, the analyst maintained his Buy rating and $250 price target on shares of the Cupertino-based company.
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Comments

  • Reply 1 of 59
    teckstudteckstud Posts: 6,476member
    That's certainly vague. First they say he had a bug and then they say he caught it from follow up surgery? A slight difference- don't you think? No wonder the focus on this.
  • Reply 2 of 59
    Maybe they should just elevate someone else to the CEO position and free Steve Jobs of that title like Gates was doing before he left. Steve would still be doing the things he does, but would not have some of these reporting issues. I don't know. Sounds like an idea. Maybe a bad one, I don't know...
  • Reply 3 of 59
    monstrositymonstrosity Posts: 2,199member
    Quote:
    Originally Posted by douglogic View Post


    Maybe they should just elevate someone else to the CEO position and free Steve Jobs of that title like Gates was doing before he left. Steve would still be doing the things he does, but would not have some of these reporting issues. I don't know. Sounds like an idea. Maybe a bad one, I don't know...







    I'm up for standing in for Jobs, pick me, pick me. I have vision coming out of my ass...
  • Reply 4 of 59
    teckstudteckstud Posts: 6,476member
    Quote:
    Originally Posted by monstrosity View Post


    I'm up for standing in for Jobs, pick me, pick me.



    You really think you could handle the job of Jobs?
  • Reply 5 of 59
    ktappektappe Posts: 759member
    Quote:
    Originally Posted by AppleInsider View Post


    Jobs is actively reassuring some of his closest associates that rumors of his health are greatly exaggerated.



    I'm pretty sure you mean that rumors of his failing health are greatly exaggerated.
  • Reply 6 of 59
    retiariusretiarius Posts: 142member
    ... after a bout with pancreatic cancer.



    With humble respect, for those who don't understand the difference between

    benign and malignant, please consult:



    http://online.wsj.com/article/SB1216...s_inside_today
  • Reply 7 of 59
    I can't see what all the fuss is about. Nobody knows how long they've got anyway.



    I'd say Mr Jobs actually stands a better chance of living longer than some people because at least his doctors know what's going on inside of him and he's getting regular checks.



    How many times have you heard of people just dropping down dead when there supposedly in good health. We've just lost a local lad, 17yrs old, football player, running for the ball, bang gone in 60 seconds. Had a heart problem that stemmed from an illness as a young child. Doctors said if they'd known about it he'd still be walking around.



    People are just walking around thinking it'll never happen to them and then bam it's all over. It's what's going on inside of you that counts and none us know that unless we get checked out and are regularly monitored.



    Give the guy a break and keep the posts to technical or exciting news. It's getting pretty dark in these forums lately.
  • Reply 8 of 59
    dogcowdogcow Posts: 713member
    Quote:
    Originally Posted by ktappe View Post


    I'm pretty sure you mean that rumors of his failing health are greatly exaggerated.



    Some of these recent "reports" have been reading like high school homework assignments.
  • Reply 9 of 59
    grayumgrayum Posts: 46member
    If god forbid Steve had to step down, I'd hand the baton to Johnny Ive.......
  • Reply 10 of 59
    gqbgqb Posts: 1,934member
    Quote:
    Originally Posted by monstrosity View Post


    I have vision coming out of my ass...



    That must make driving REALLY difficult.
  • Reply 11 of 59
    ouraganouragan Posts: 423member
    Quote:

    Given the due responsibility of Apple's board and the fact that no announcements have been made to date, Munster told clients there is "no reason to believe that Steve Jobs will not continue to serve as Apple's CEO."





    Do you really believe that? If Jobs was O.K., it would be incumbent upon Apple's board to issue a press statement confirming his good health. Steve Jobs himself, given the public interest in his physical appearance, should have made a public statement about his current condition, supported by a medical report signed by his treating physicians.



    Whispers are for fools. The absence of a public statement by Steve Jobs, the Apple board or Steve Jobs' physician is a strong indication that he is severely sick.



    Given how overpriced and speculative Apple's stock is, the absence of any official statement on Steve Jobs health is cause for concern.



  • Reply 12 of 59
    Quote:
    Originally Posted by retiarius View Post


    ... after a bout with pancreatic cancer.



    With humble respect, for those who don't understand the difference between

    benign and malignant, please consult:



    http://online.wsj.com/article/SB1216...s_inside_today



    Thanks for the link. I knew something was up when I saw that he hadn't updated his blog in almost a month.



    Also of note: At his last lecture Randy said he had a 'deathbed conversion'... he just bought a Macintosh.



    Video is here, and the comment comes in at exactly 11 min.
  • Reply 13 of 59
    eriamjheriamjh Posts: 1,113member
    Quote:
    Originally Posted by monstrosity View Post


    I'm up for standing in for Jobs, pick me, pick me. I have vision coming out of my ass...



    Quote:
    Originally Posted by GQB View Post


    That must make driving REALLY difficult.



    I was going to suggest he have that condition checked by a doctor. It could be serious.

  • Reply 14 of 59
    buzdotsbuzdots Posts: 449member
    Quote:
    Originally Posted by AppleInsider View Post


    Apple board obligated to disclose material changes in Jobs' health



    Investment bank Piper Jaffray is assuring Apple investors Friday that the company's leadership would be required to disclose in a timely fashion any changes that would prevent Steve Jobs from maintaining his role as chief executive.





    Come on AI, with a headline like that you would think that Piper Jaffray was a legal firm... NOT!
  • Reply 15 of 59
    jeffdmjeffdm Posts: 12,946member
    I think the "advice" is suspect. The investment bank might know the applicable SEC laws, I don't know if they have any qualifications with regards to knowing medical privacy laws. While Jobs is a high profile figure, I'm not sure it's legal to disclose health information.
  • Reply 16 of 59
    frugalityfrugality Posts: 410member
    Steve Jobs' health is none of my business, none of the almighty Board's business, and most certainly not any of Piper Jaffray's business. The only thing the board and Piper Jaffray should be concerned about, if they fear losing Steve, is having a plan in place to put someone else in charge. It will have to happen eventually. Steve is mortal, and some day he will return to the dust like any of us. Give him some privacy when it comes to his health.
  • Reply 17 of 59
    jeffdmjeffdm Posts: 12,946member
    Quote:
    Originally Posted by ouragan View Post


    Do you really believe that? If Jobs was O.K., it would be incumbent upon Apple's board to issue a press statement confirming his good health. Steve Jobs himself, given the public interest in his physical appearance, should have made a public statement about his current condition, supported by a medical report signed by his treating physicians.



    Do you know that you might be advocating violating medical privacy laws?



    Quote:

    Given how overpriced and speculative Apple's stock is, the absence of any official statement on Steve Jobs health is cause for concern.



    Absence of evidence is not the same as evidence of absence.

    - Niel Degrasse Tyson -
  • Reply 18 of 59
    foo2foo2 Posts: 1,077member
    I'd say that in the 4 years since Jobs was diagnosed of the cancer (oh, and 100% cured, by the way), the company has done pretty well. The radical, curative surgery he had leaves lasting effects on the GI tract, but these are all manageable. If he consequently has trouble keeping food down or with his bowels, I really don't want to know about it. Follow-up surgery is sometimes necessary, but that's just part of the management. The public can be ruthless and insatiable, particularly when they have competing interests. Give'm hell, Steve!
  • Reply 19 of 59
    buzdotsbuzdots Posts: 449member
    Quote:
    Originally Posted by JeffDM View Post


    Absence of evidence is not the same as evidence of absence.

    - Niel Degrasse Tyson -



    How apropos!
  • Reply 20 of 59
    cnocbuicnocbui Posts: 3,613member
    Steve's health is his own business. If he chooses not to inform Apple's board about the state of his health then they won't know what it is, so they would not be able to make any statements about it.



    Just keep it private Steve and let the analysts and busybodies go stuff themselves.
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