Jobs on Medical Leave

In case you hadn’t heard, it seems that Apple CEO Steve Jobs is taking a medical leave for an unspecified amount of time. Not a lot of information has been made available except that, while COO Tim Cook will be taking over day-to-day operations, Jobs will remain as CEO.

Speculation over how long this leave of absence will be remains. An internal memo reported by Business Wire reads, in part, that Jobs feels that Cook and the Executive Management Team will “do a terrific job executing the exciting plans we have in place for 2011,” which may indicate Jobs’ absence  may last through a greater portion of this calendar year.

How this will pan out, we’re not sure. Jobs took a similar leave on the early part of 2009, which lasted until late June. During that time, Apple stock rose 60%. However, as of this morning, overseas trading had Apple stock (AAPL) down about 8%, according to Bloomberg.

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