Trying to put to rest persistent speculation about his health,
the chief executive of Apple, Steve Jobs, disclosed in a public
letter Monday that he was recovering from a hormone imbalance that
had contributed to his continuing weight loss.
Jobs noted that his decision not to give his annual Macworld
keynote address "set off another flurry of rumors about my health,
with some even publishing stories of me on my deathbed."
But Jobs, who recovered from pancreatic cancer four years ago,
said that contrary to reports that he was suffering from a relapse,
doctors had recently diagnosed his visible weight loss as the result
of a hormone imbalance that was depleting proteins in his body.
Blood tests confirmed the diagnosis, Jobs wrote, adding that "the
remedy for this nutritional problem is relatively simple and
straightforward, and I've already begun treatment."
Jobs said that he would continue to serve as Apple's chief
executive.
"I will be the first one to step up and tell our board of
directors if I can no longer continue to fulfill my duties as
Apple's CEO," he wrote. "I hope the Apple community will support me
in my recovery and know that I will always put what is best for
Apple first."
Shareholders reacted positively, bidding up Apple shares more
than 4.5 percent, to $94.88, in afternoon trading in New York.
Shareholders had dropped the stock last week when the popular gadget
blog Gizmodo reported that Jobs's condition had deteriorated.
Apple announced last month that Phil Schiller, the company senior
vice president for worldwide marketing, would deliver the keynote
speech Tuesday at Macworld, which is usually a high-profile platform
for Jobs to announce new products.
In a separate statement, the board of Apple said that Jobs
deserved the company's support during his recuperation. "He most
certainly has that from Apple and its board," the statement said.
Jobs announced in 2004 that he had undergone successful surgery
to treat a very rare form of pancreatic cancer - an islet cell
neuroendocrine tumor. The cancer is easily cured if diagnosed early.
Jobs did not have a deadlier and more common form of pancreatic
cancer called adenocarcinoma.
Even so, fears that Apple would lose his leadership percolated in
2008 as Jobs appeared gaunt. Apple said he was suffering from a
common bug, but The New York Times cited anonymous sources who said
Jobs had undergone "a surgical procedure" to address the problem
that had caused him to lose weight.
Some analysts expected Macworld to help Apple show it could
execute its long-term strategy without Jobs as its public face.
"There's no doubt that Steve is very important for Apple," a
Kaufman Brothers analyst, Shaw Wu, said. "What we've been trying to
tell investors is that the company isn't a one-person show."
Yet others have questioned the company's viability without Jobs,
and the announcement Monday is not likely to end the speculation,
unless Apple offers more details on Jobs' condition, said Brian
Marshall, an analyst for AmTech Research.
Marshall expects Jobs to step down from the chief executive post
sometime this year, most likely remaining an adviser to the company.
Marshall said if Jobs left, it would cut $10 to $15 from Apple's
share price.
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