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

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.

Jonathan Geller founded Boy Genius Report, now known as BGR, in 2006. It became the biggest mobile news destination in the world by the end of 2009, and BGR was acquired by leading digital media company PMC in April 2010.

Jonathan is President of the newly formed BGR Media, LLC., and Editor-in-chief of the BGR website.

What started as a side project at the age of 16, quickly transpired into 24-hour days and nights of sharing exclusive and breaking news about the mobile communications industry. BGR now reaches up to 100 million readers a month through the website, syndication partners, and additional channels.