Apple Stock Dives Amid Jobs Health Rumors

Shares take a hammering despite robust 3Q results
By Rob Quinn,  Newser Staff
Posted Jul 22, 2008 4:00 AM CDT
Apple CEO Steve Jobs introduces the new Apple iPhone as he talks about sales around the world at the Apple Worldwide Developers Conference in San Francisco, Monday, June 9, 2008.    (AP Photo/Paul Sakuma)
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(Newser) – Apple reported one of its best third-quarter results ever yesterday, but its stock took a 17% nosedive amid rumors that CEO Steve Jobs is in poor health, reports the San Jose Mercury News. Jobs, who beat pancreatic cancer four years ago, appeared gaunt at a conference last month. Investors were also rattled by the company's conservative outlook for the fourth quarter.

An Apple spokesman reported very healthy Mac and iPhone sales but caused anxiety among investors by announcing that an upcoming "product transition" would hurt fourth-quarter profits. He sidestepped a question about Jobs' fitness. "Steve has no plans to leave Apple," he said. "Steve's health is a private matter." (Read more Steve Jobs stories.)