Market Reacts to Jobs Reportedly Receiving Cancer Treatment
by Todd Shriber
Apple (AAPL) co-founder and CEO Steve Jobs has been spotted at the Stanford Cancer Center in Palo Alto, Calif., according to a report by Radar Online.
Jobs, who turns 56 next week, previously received a liver transplant and successfully battled pancreatic cancer. But it isn’t known if he was receiving treatment for either of those conditions on his reported visits to the Stanford Cancer Center, Radar Online said. The late actor Patrick Swayze was also treated there.
Adding to Apple’s woes could be photos due to run in the next issue of the National Enquirer that show a man believed to be Jobs leaving the cancer center appearing gaunt and frail.
Gizmodo reports that the Enquirer is giving its typical bleak prognosis, proclaiming that Jobs has mere weeks to live. It’s hard to decipher from the photos if that really is Jobs, and there have been reports that he has recently been seen at Apple’s headquarters in Cupertino, Calif., looking well.
Still, traders and investors can be emotional, and Nasdaq futures moved to the downside Wednesday night on the report. Apple’s stock did the same on Thursday, closing down nearly $5. Regardless of the veracity of this news, it would perhaps speak to the wisdom of Apple’s ongoing, self-inflicted problem regarding its cryptic handling of anything related to Jobs’ health.
Put another way, with Apple shares clearly sensitive to this kind of rumor, what does the computer company think will happen if The Wall Street Journal or Bloomberg can confirm the story?
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