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Apple’s Smart Move

January 19th, 2011 | No Comments | Posted in News

The Chief Executive of Apple has taken leave of absence yet again. Within the last seven years he has taken leave of absence twice to tend to his health. Steve Jobs, the Chief Executive, went for a medical leave in August 2004 when he went for surgery in treatment of a rare pancreatic cancer. He returned to work in a month’s time. Jobs then took another medical leave in January 2009 which lasted for six months. It was later known that he had a liver transplant then. The timing of Jobs’ leave this time seems to have been well planned. Last time when he went for leave Apple’s shares dropped nearly 10 percent in extended trading. This time round Jobs broke the news of his leave on a day when the U.S markets were closed. This was purposely meant to give traders time to reflect before making drastic moves in relation to the company’s shares. It has also happened when the company was just about to release its quarterly earnings report for the period covering the holiday season in 2010. Apple definitely knew that their earnings were nothing short of stellar and the report which was finally released proves just that. In the last quarter of 2010, Apple got revenue of $26.74 billion which was a big climb from the previous year’s earnings of $15.68 billion for the same period. The net income rose to $6 billion from 2010’s $3.67 billion.

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