Iconic CEO labeled biggest asset and risk

Several analysts have quickly stepped forward with differing opinions regarding the potential implications of Steve Jobs' medical leave. Gene Munster of Piper Jaffray provided an optimistic outlook, highlighting interim CEO Tim Cook's performance in 2009 during Jobs' six-month leave. The analyst suggests Apple's iconic CEO "is not stepping down," while his time spent away from Cupertino this year may be shorter than the previous leave.

Other analysts, including RBC Capital's Mike Abramsky, criticized the company for many of the same issues that surrounded Jobs' leave in 2009. Abramsky points to limited disclosure as a factor that may frighten some investors, as the current leave has not been tied to a specific time-frame. Separate reports suggest the CEO's declining health became increasingly apparent during the past several weeks.

Despite the uncertainties, other investors are said to be confident in Apple's management structure without Jobs at the helm. Optimists doubt the latest medical leave will have a significant impact on Apple's momentum in the industry.

"In our initiation we commented regarding Steve Jobs as being Apple's biggest asset -- and its biggest risk," Abramsky noted. "It will be difficult to assess how the absence of Steve's drive, innovation and leadership -- and his high level of involvement -- may or not have a negative impact in the longer term on Apple innovation and talent retention."

Speculation regarding Jobs' health ahead of his 2009 leave was credited with driving noticeable fluctuations in Apple's stock price. The company made its latest disclosure ahead of a US holiday, giving time for the news to settle before the stock market reopens on Tuesday. Outside of the US, however, shares of Apple stock in the Frankfurt Stock Exchange slid by nearly eight percent before the market closed for the day. [via Fortune]

by MacNN Staff