Steve Jobs health is our “business” in more ways than one

6:42 AM, Tuesday
I can’t avoid the elephant in the room.
As much as I have never been a player in Apple, nor have any imminent plans to be, it seems everyone from the front page of major dailies to the blogosphere is buzzing about Steve Jobs’ health concerns and the impact such speculation is having on shares of Apple.
In case you’ve been tuned out for a while, the humming started back in June when Jobs, who announced back in 2001 that he had successfully fought pancreatic cancer, appeared gaunt during the unveiling of the new iPhone 3G.
Apple responded that Jobs was simply suffering from “a common bug.”
But during an earnings call yesterday, which Jobs was not at — but rarely is — someone put the question to Apple’s CFO Peter Oppenheimer that many wanted answered — “Is Steve Jobs still sick?”
After gushing that Jobs loves Apple and has no plans to leave,  Oppenheimer replied, “Steve’s health is a private matter.”
I disagree.

And it appears the street does, as well.

Before the analysts’ call ended, Apple’s shares slid 11 percent, despite the fact Apple reported revenue and profit that set a new record for its third quarter.

But even before there was any speculation regarding Jobs’ health, I wasn’t a player in Apple, simply because it seemed the company was focusing so much attention on its iPhones, it felt more like a competitor with Nokia than Microsoft, and I just have a personal preference for the higher-end market when dealing in tech.
For me to pull a trigger on a stock I have to like its balance sheet, its product, its vision and, most importantly, feel when I’m listening in on the analysts’ call that they’re dishing the straight scoop.
And, quite frankly, I don’t feel that way about Apple, because in my mind, Steve Jobs is Apple.
This is a publicly traded company.
So, I beg to differ with Mr. Oppenheimer, but Mr. Jobs’ health concerns damn well are my business — and especially those of anyone who is actually a buyer or seller of the stock.
And if, heaven forbid, Jobs’ health woes were more serious back in June than just “a common bug,” and honchos at Apple knew it at the time, then my feeling is they had a responsibility to share that information.
As goes Jobs, so goes Apple.
So while I sincerely hope Steve Jobs’ is doing fine, Apple needs to immediately clarify his condition:
If Jobs is sick and others are running the show at Apple — tell us.
If Jobs is fine and dandy and laughing at all this silly speculation regarding his health — tell us.
Grow up, Mr. Oppenheimer.
We’re not on an elementary school playground where little Sally can coyly defer questions about her crush on Johnny by telling her little friends that it’s none of their beeswax.
This is major public company being traded in many portfolios from Main Street to Wall Street.
And it damn well is our “business” — in more ways than one.
The usual disclaimer: Don’t base any of your investment decisions on anything in my blog — do your own due diligence — or at least enough research to hire the right professional to do it for you.

2 Responses

  1. I Just came across your web looking at pics of Quincy of which I am planning to go back after 35 yrs ,mostly in Colorado. I grew up in Cohasset. I miss Mass.- A LOT- having been away sooooo long !! Please look at and Peace is Possible by Andrea Cagan. It is an excellent bio. on the most important things in life. It has two sets of pictures of the last fifty yrs. of events. Thank you – Byam.

  2. what do you think about jumping on the oil bandwagon? I’m not ‘young’ and havent made wise decisions as to investments. I have virtually nothing towards retirement so I dont mind high risk. (maybe thats why i havent made good decisions?) lol
    whats your advice?

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: