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Jobs takes second medical leave of absence from Apple

Apple's Steve Jobs had a big 2010. He oversaw the launch of the iPad, iPhone 4, and popular new MacBook Air models. In more recent news, Apple's market cap surpassed the $300 billion USD mark.

Despite all the positive news on the company front, it appears that Jobs' health is once again the in spotlight. Jobs released the following statement today:


At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.


Jobs last took a medical leave of absence in January 2009, and was successfully treated for pancreatic cancer. He received a liver transplant in early 2009 and was back at the helm of Apple in late June 2009.

We all here at DailyTech wish Jobs a speedy recovery.

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By KoolAidMan1 on 1/17/2011 4:18:31 PM , Rating: 2
Microsoft makes more net revenue due to the fact that Windows and Office carry much higher profit margins than any piece of hardware could dream of having. The fact of that matter is that AAPL's gross revenue is higher and increases every quarter.

As for competing tablets, I saw all of them at CES. The iPad has absolutely nothing to worry about from the competition. The Xoom is garbage and the Blackberry Playbook, nice as it is, is missing applications and consumer mindshare.

The only thing holding back the iPhone so far has been carrier lockdown. Every single person I know that has an Android on Verizon is switching to an iPhone. The same restrictions do not apply to the iPad. I see them owning the tablet space like they did media players with the iPod, and I easily see them making Foxconn's estimated shipments over the next two years.

Foxconn's estimates are far more than my own conservative ones. I was thinking closer to 30 million going into 2012.

Again, given Apple's estimated gross revenue going forward based on these estimates (not to mention net revenue that will exceed every other tech out there, software companies included), I easily see them blasting through $500 a share. Of course, it is always a good time to wait for a pullback before buying in, perhaps a retracement to the 50 period moving average on a weekly chart.

"A lot of people pay zero for the cellphone ... That's what it's worth." -- Apple Chief Operating Officer Timothy Cook

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