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.
"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.
"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.
Comments
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...
I'm up for standing in for Jobs, pick me, pick me.
You really think you could handle the job of Jobs?
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.
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
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.
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.
I have vision coming out of my ass...
That must make driving REALLY difficult.
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.
... 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.
I'm up for standing in for Jobs, pick me, pick me. I have vision coming out of my ass...
That must make driving REALLY difficult.
I was going to suggest he have that condition checked by a doctor. It could be serious.
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!
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?
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 -
Absence of evidence is not the same as evidence of absence.
- Niel Degrasse Tyson -
Just keep it private Steve and let the analysts and busybodies go stuff themselves.