18 Jan '11, 11pm

Apple share price drops on Steve Jobs' health fears

NEW YORK: Apple shares fell on Tuesday as renewed health concerns for chief executive Steve Jobs, the Silicon Valley legend behind the Macintosh computer, iPod, iPhone and iPad, raised questions about the company's future. Apple shares opened about six percent lower in New York on Tuesday, a day after Jobs announced he was taking another medical leave of absence, but they recovered during the day's trading to close down 2.25 percent at $340.65. Apple, whose share price rose 60 percent last year, had closed at a record high of $348.48 in New York on Friday. Wall Street was closed for a holiday on Monday. After the stock market closed on Tuesday, the California-based gadget-maker announced another blockbuster quarter, reporting that net profit soared to a record $6 billion on revenue of $26.74 billion. In announcing on Monday he was going on medical leave, his third since 20...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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