Apple stock opens down 5% on news of Steve Jobs’ medical leave

By on Jan 18, 2011 at 9:41 AM
Business January 18, 2011

With Steve Jobs’ medical leave from Apple, many expected the company’s stock to get hit quite a bit — and they’d be right as shares of AAPL are down around 5% as the market opens this morning. Don’t forget that Apple is reporting its Holiday quarter earnings later today, however, and the consensus is that Apple will have the biggest and most profitable quarter ever. Apple’s earnings can and most likely will help the stock overcome the impact of Jobs’ leave from Apple, at least temporarily — as was clearly Apple’s intention with the timing of yesterday’s announcement. With Apple’s extremely solid product lineup for 2011 (as it has been rumored), we’ll have to see how the stock fares long term.

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  • http://twitter.com/FondelMaJunk Sofonda Cox

    Only down 3.45% currently.

    • http://www.flickr.com/photos/PACMan3000/ Paul A. Chapel

      I used to trade stock on the NASDAQ and I’ve seen Apple’s stock drop 5 percent on a good day. It’s not very significant at all. I think the last time Steve Jobs announced a medical leave, the stock dropped maybe 15 percent.

      The people saying 5 percent is a big drop, don’t know anything about the stock market.

  • http://twitter.com/Syk0Matik420 Beefy McBigDick

    yayyyyy. fall another 95% and we will be rid of you apple! finally make some room for REAL technology.

    • Anonymous

      That’s SOOOO right! Apple doesn’t have ANY technology! I saw someone buying a MacBook Air and when he tried to turn it on he realized it’s made of cardboard inside, no electronics. But, as typical of iSheep, he kept it.

    • Anonymous

      In addition, what could you expect out of an american company as far as originality and leadership. leave that to taiwanese companies like HTC. Now those guys are original!

    • Anonymous

      Everything you use, whether it is your Windows PC, your Zune, your Android phone or whatever would not be what it is today have it not been for a few products/company’s

      Apple and NeXT
      The Lisa/Mac
      NeXTSTEP
      Newton
      iPod
      iTunes
      iPhone
      iPad

      Some of these things made today’s tech what it is, the others will make tomorrow’s tech what it will be.

  • Ignatz Krebz

    Have the BGR writers ever come out and admitted to owning stock in Apple? It would explain a lot about the content on the site.

    • Brett

      Owning stock in Apple? Apple owns stock in them!

      Cue Goofan

      • http://twitter.com/cefranco2 Carlos Franco

        OR… Microsoft could try to innovate a little these days…

      • Brett

        They don’t have to, they have what, 90% of the market share?

      • http://twitter.com/cefranco2 Carlos Franco

        “They don’t have to, they have what, 90% of the market share?” Brett

        If may own 90% markethshare of the desktop world but not of the mobile world. In a few years people are going to what a unification of their mobile phone and their desktop computer, be it MS or Apple. MS has to see this coming and so far, their mobile market share is low.

        Having said this, I played with a WP7 OS phone this weekend for a good hour, i walked away not impressed as an experienced user. Its a good start for a current generation OS but it felt rushed and not completed to me.

      • Anonymous

        Lovely! Good job Brett! You are a beloved member of the Goofan (aka Apple Hater) nation. Norm (aka Norm4GLTE, after his marriage) has endorsed you.

        That said, I believe that BGR is indeed owned by Apple outright. Have you ever seen Jonathan and Steve in the same place twice? NO! Have you ever seen Andrew and Tim Cook in the same place twice? NO! Have you ever seen Zach and my mother in law in the same place twice? YES, ew! Anyway, it goes without saying! But like EVERYTHING Apple, they will SOON disappear and the ABG will be born (Android Boy Genius) aka NORM4GLTE!

  • Bob

    Microsoft would rise if Ballmer would take a leave.

    • http://twitter.com/cefranco2 Carlos Franco

      I agree here. Steve Ballmer does nothing for the company. Windows 7 is about their only win right now. They are losing in the mobile field and losing fast.

      • Chripuck

        Yes, because they didn’t sell 8 million Kinects over the hoiday season. They’re clearly not the #1 gaming system out.

        Smartphones are headed for saturation (and are getting there quickly.) In 10 years it won’t matter if Win Phone 7 did well or not.

        And I bought the original iPhone when it came out, I own an iPhone 4 and I’m going to buy the next iPad so I’m not an MS fanboy.

      • http://twitter.com/cefranco2 Carlos Franco

        Ok, you got me on the Kinect point. They nabbed a good product there.

        But, your next point i dont agree with. Smartphones are getting no more saturation then your standard desktop and if you think the mobile world is going to be less important in 10 years then your not paying attention. Its going to be just as important if not more and if MS doenst do something to get its marketshare then they will fall behind. The computing world has moved away from striclty desktop environment.

        Actually, this is my first IP4 and i came from a few generations of BB’s and own multiple PC’s. I’m a fan of what works.

      • lurch

        Uhhh XBox 360 is clearly not the #1 gaming system out. It’s not #1 in sales, and it’s not #1 in quality.

  • Dmackdaddy

    Loaded up the truck at $330!

  • Anonymous

    Just shows you how inflated and bloated the Apple stock is at the moment. A multi-billion dollar company’s stock drops *5%* all because of a CEO’s medical leave?

    • Brett

      I doubt it’s solely due to his leave. We did have a long weekend and stocks fluctuate even when the market is closed.

  • Anonymous

    Reading some of the comments I am trying to find their justification. Where exactly is BGR so pro Apple in this article?

    Look people, it isn’t a BGR thing. Pretty much every blog and every news source has some sort of posting (or collection of postings) about Steve Jobs and his medical leave.

    The reason everyone cares is because this one man has been the driving force behind teams that have brought forth all of the technology that you use today.

    You use a Windows computer though. Okay but you wouldn’t be using that Windows computer had Apple not brought the personal computer to market and later brought the GUI and mouse to market. NeXTSTEP ushered in the greatest GUI to date and is now known as Mac OS X. What makes NeXTSTEP so great? Well, it scales. So does Linux you say. So does Linux I say with absolutely not polish or form to function. Media Streaming (particularly video) say hello to Quicktime. Apple did invent this one. Video streaming has been around about 20 years now inside Apple and the first release will celebrate it’s 20th anniversary on December 2, 2011.

    Digital media stores
    Successful App stores
    Using the same code based OS with multiple products in multiple market segments

    The most important part though, no matter the website, no matter the story, every posting about Apple has the largest amount of comments every, single, time.

    One man has been pushing the tech industry in the directions it has gone and his company will continue to push technology in the direction it will go.

    It is just the way it is. Like getting raped in prison, you don’t have to like it but it is going to happen.

  • Anonymous

    Buy Buy Buy!!!

  • Kodylanes

    Hopefully he stays gone this time….who needs apple we have android now…..

    • http://www.facebook.com/Benjamin.David.Collins Ben Collins

      Yeah, because wishing someone poor health so your favourite smartphone platform does well is totally good form.

  • Anonymous

    I strongly believe this announcement was strategically timed by Apple. Steve probably had medical complications as early as the Verizon Iphone launch which explains his absence at that event.

    Very smart on Apple’s part to announce Steve’s medical leave right before their quarterly financials (which are probably stellar) are released. They’re hoping the financial results will overshadow the situation with Steve and balance out any negative trends of the stock. Well played Apple.

  • Anonymous

    My God this is so retarded. Anyone who knows anything about financial markets knows that stock prices fluctuate CONSTANTLY, depending on news that gets released, economical factors, global factors, systematic and unsystematic risk, yadda yadaa etc. It happens every day. They bounce up and down and all around. Everyone wouldn’t shut up about the 5% drop and I told them to chill and that it will be back up as if it never happened the next day. Sure enough it did. Oh yeah last time Cook took over for Jobs the last time he had health issues, Apple stock rose 80% in the time Cook was there. Relax fanboys.

  • http://twitter.com/Syk0Matik420 Beefy McBigDick

    Well that sucks, was hoping Steve “Blow” Jobs would kick the bucket as would Apple. Will just have to wait for their inferior products and technology to destroy them. have a good day everyone

  • Andrea Bakurva

    Thats the good news ever,, i have iphone from apple and its worth it,, goodluck steve from apple. i like this brand.

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