Apple CEO blames hedges for health drama
Posted
Sep 10 2008, 01:14 PM
by
Kim Peterson
Rating:
Apple CEO Steve Jobs emerged onstage at a company event yesterday looking pretty good. Still super skinny, but with enough of a glow to quiet some investor concerns about his health.
He wouldn't discuss the topic on-camera with CNBC's Jim Goldman, but when the camera was off he attributed rumors about his ill health to "hedge funds with a big short position in Apple." He said to Goldman: "I'm doing fine, really," but said he could stand to gain 10 or 15 pounds. Will someone go buy the man a Java Chip Frappuccino? Perhaps this is why Apple shares are up more than 1% today to $153.46.
The NYT's Joe Nocera calls foul, saying a more likely scenario is that hedge funds that are long on Apple were asking around about Jobs' health. "This was a perfectly sensible thing for them to do because Mr. Jobs is so vital to Apple — and his health is therefore vital to all investors," Nocera writes.
Jobs even tangentially joked about the health drama yesterday on stage, showing a message on screen that read, "The reports of my death are greatly exaggerated." He was referring to a Bloomberg obituary about him that was mistakenly published.
It looks like Jobs has finally but some speculation to rest by addressing the subject in public and on the record. He should have done this in June, when the first concerns about his appearance surfaced, instead of giving the rumors three months to fester.
Related reading:
Apple can't escape health drama
Apple CEO's health: Who will ask about it?
Is it fair to analyze Steve Jobs' appearance?
