“Yesterday’s mistake by the Associated Press about Steve Jobs and Apple’s conference call, and whether he was there, is commonly there, not commonly there, whether it was an indication of health issues, or no health issues, just struck me as weird,” Jim Goldman writes for CNBC.
“The background: When Apple began its conference call, Steve Jobs was absent. Chief Financial Officer Peter Oppenheimer handled the duties. And in a normal circumstance, that scenario would get little attention. But following the New York Post’s coverage yesterday morning about certain hedge fund managers ‘worried’ about Steve Jobs’ health, rehashing a bunch of details that were well over a month old, it brought the whole issue back into the discourse. And that’s probably what was on the mind of the Associated Press reporter covering the conference call, wondering why Jobs wasn’t present,” Goldman writes.
MacDailyNews Take: You can politely call what the Post did yesterday “coverage,” Jim; we’re sticking with “bullshit.”
Goldman continues, “She wrote in an early filing: ‘Steve Jobs, Apple’s chief executive, did not join the conference call with investors as he commonly does, prompting an analyst to inquire about his health. Jobs survived pancreatic cancer.'”
“Apple shares were already suffering enormous pressure heading into the call because of the company’s weaker than expected fourth quarter guidance,” Goldman writes. “But when this story, with those sentences, hit the wires, Apple’s plunge accelerated into a free-fall. Was Jobs ill? Did his absence from the call indicate that he wasn’t physically up to it? Were all those concerns a month ago, that finally began to dissipate, actually well-founded? It seemed investors were answering yes, yes, and yes, and drove Apple shares down dramatically. The message boards lit up like a Christmas tree with brutal speculation about what this all meant.”
“Investors, however, should have answered ‘no,’ ‘no,’ and ‘no.,'” Goldman explains. “You see, Jobs is never on the company’s earnings call. Never. Ever. And anyone covering this company knows it. And anyone investing in the company should know it. And that’s why that sentence in the AP story is so troubling, and so factually off base.”
More in the full article – recommended – here.
[Thanks to MacDailyNews Reader “JES42” for the heads up.]
most reporters are ignorant.
they repeat what other ignorant reports say.
They are stock market manipulator douchebags. They do it all the time!
The big hedge funds AFTER HOURS dumped tons of shares and artifically depressed Apple’s stock price. This was not day traders. This was market manipulation.
“Steve’s health is a private matter”
A very different statement made by Apple than what they said at WWDC.
“Journalism”…..the lost art………very lost art.
Apple’s stock was down $10 before the quarter’s report started at 5:00 pm ET.
I’m fine everyone. I took the day off to swim around in my new money bin.
Steve Jobs might already be dead for all we know.
After answering umpteen idiotic similar questions, Apple can say it’s a private matter. Saying he’s OK doesn’t shut off the speculation anyway.
Of course they could hold a conference with multiple charts and diagrams of every organ in CT scan 3D, animated, holographic, traveling through every blood vessel, with a panel of Dr commentary, and dissect every hiccup and bowel movement on international TV, as if that would quell the rabid jealous devious scavengers who want to take the polish off Apple’s well-deserved success.
Apple might want to have its amusement with a Ross Perot – Ronald Reagan diagram-fest that gives so much info about every body system that med school students will fall asleep. Or they could float a new rumor, “Steve has sex with alien intergalactic monopoly goddess while undergoing surgery for splinx redaction reformation.”
Whatever they do, it won’t be good enough, will be twisted in multiple bizarre media contortions, and will cause the stock to plummet.
Meanwhile, Apple continues to launch and support excellent products, develop even better ones, and show strong sales.
Wow, incredible. I listen to the CC all the time, and Steve is never there. Everyone knows that.
Steve is quoted in the press release but that’s it.
I see the AP is meeting its usual standards for accuracy…
The original Steve Jobs has been dead for decades. The company owns the name. There have been several “Steves” since then. He’s just like Lassie…or VC Andrews.
The AP is to news what the radio station played in grocery stores and elevators is to music.
I live in Palo Alto and my wife saw Steve riding his bike with his family the other day. She did say he looked very skinny and maybe sick, but then again, he was riding a bike.
“Steve Jobs might already be dead for all we know.”
Actually, if he was dead, I believe Apple would build an android in his image that would last for 6,000 years, thus eliminating any investor worries for “a few years”. Of course, the android would be powered by OSX.
When Lance Armstrong returned to bicycle racing after months of surgery and chemotherapy for testicular and brain cancer, people were shocked by his appearance. He had lost 20 percent of his body mass.
Seven consecutive Tours de France wins later, those questions magically melted away.
An unfortunate side effect of pancreatic cancer and the treatment (including surgery) for it often leaves the survior robust, but with significantly decreased body mass. In addition, the survivor’s metabolism and digestion changes permanently, making it a challenge for the person to regain weight that they had lost. In no way does this threaten the health of the person, but they emerge from the experience with reduced body mass.
It’s sad that the media fails to investigate this medical fact, much less report it.
In addition, there is a federal law named HIPAA (the Health Insurance Privacy and Portability Act). Under HIPAA, an individual’s right to the privacy of his or her medical information is protected. Each of us are under no obligation to disclose anything about our medical condition to anyone. If you read the healthcare trade publications as I do every day, a patient’s medical privacy is a regularly reported topic.
In the light of the above, I find it odd that this is an issue at all.
With facts so transparent as these, I can only conclude that repeated reports and speculation on an individual’s health aren’t being raised by accident. Sad.
@Cooter
or… The Dread Pirate Roberts…
One last thing.
What if the truth was that he had a relapse and was terminal? The first thing I would think of would be how I felt bad for him and his family, friends and co-workers. The guy is a genius – he reinvented a company that may have completely disappeared ten years ago. But he is also human. Last time I checked, human beings are born, they live, and they DIE. Not to sound too morbid, but that’s the hard truth about life. So at first, think about what his family and friends may be going through if this was indeed true.
Considering their size and their massive success, to think that a company like Apple does not have a succession plan is foolhardy to say the least. The future of the company is too important, and the vision that Steve (and others) have laid out are too powerful to just die with him. If anything, Apple is making a serious blunder not discussing a succession plan of any kind to ease investor worries REGARDLESS of Jobs’ health. Maybe they aren’t bound to do so, but that would be prudent for any company.
I hope and pray Steve is well. If he isn’t, I wish him a speedy recovery.
Ferf
Steve Jobs took a private space craft to Kamino and was succesfully cloned. Don’t worry everyone. Steve Jobs will be at the helm of Apple forever….
Bill Gates sneezed the day he left M$…not a word. There should be an investigation. McCain took a Tums after dinner yesterday…he is going to croak in office.
This is the trouble with our little cult… outsiders actually think the health of one (albeit significant) member affects the health of the entire organization.
Basically, I think they are trying to force Steve to stand up and declare “I am fine, please leave me alone” before they stop spreading FUD like cheese on pasta.
Give me monkey boy’s cholesterol level!
As ever…
… buying opportunity.
The news media making up news. I’m shocked! I’ve never heard of such a thing.
Well Folks
In a Nation where 50% of the population is ‘over-weight’
And 1/3+ is just plain flat out obese
We can figure a ‘skinny’ person – even if that is the norm for most of the World, and has been for 1,000s of years – will be considered ‘unhealthy’
Says more about our lazy-fat-ass population than it does about Steve
BC
and, yes, I’m skinny too
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