Steve Jobs is taking leave, and I still believe in Apple's future.
Reports just out say that Apple shares are set to take a pounding, overseas markets gave up 8%, because of today's announcement that Steve Jobs is taking medical leave. Forbes is quoting an expert predicting up to 15% carnage to APPL's stock price due to a lowered multiple.
This is typical panic-paranoia-myopia behavior, because Apple will run full steam ahead while Jobs recovers. Many business-beat writers point out the bench strength at the company, the existing innovation pipeline and the reduced role that Jobs is playing. Tim Cook is a rock star, running day-to-day ops. (Business Insider: Apple Is Fine Without Steve Jobs, for now...)
This is typical short term biz-think by investors. When a person feels sick, his ability to be creative, patient or think critically will be inhibited. If Jobs takes a minute to increase his energy level (to use a video game device), he may come back with NEXT BIG THING. I think he deserves not just time off, but pressure off as well. His company is, IMHO, the shining star of USA-Industry right now. He's a super hero in my book.
We've got to send the following message to great leaders that battle with their health: We want you to take time off. We believe in your team. Don't kill yourself on the job on our account: most of us are just gamblers on E-Trade, etc. Buyers, wade in if you see a buying opportunity. Just a few days ago, without much assumption of a Jobsian breakthrough, one writer predicted that Apple would surpass Exxon to be the #1 company in the world. One article posed the question: Will Apple Be The First Trillion Dollar Company?
Quick, who's in charge of Exxon? Is there a central figure that's turning all the switches, bringing all the killer apps to work every day? Nope, and Apple should be no different. I mean honestly, if Bill Gates had bugged out to devote 100% of his energy to non-profit-world in '03 ... would Microsoft be any less or more great right now? And here's another POV - Jobs is an incredibly strong personality that could intimidate other (and better) ways of thinking as Apple grows into its valuation. Ever considered what would happen if Apple became more open or more truly social?
This is my point: Don't put the business on the shoulders of one person. It's not fair to him/her and will punish people for their success with a long-term sentence of 20 hour days, 30 meeting weeks and gigabytes of urgent information flowing through their battered minds. In the long run, much like me, who would want the hassle of starting or running a company of any size or significance?
People freak out, sell and evangelize Apple because of the products' user experience and design wow. Not Steve Job's presentation at the Verizon launch. Find an AppleAddict and ask him/her, name five things you love about Apple. Steve won't be one of them.
BUY APPLE ON THE DIP.
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