18 Jan '11, 11pm

Apple share price drops on 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 per cent lower in New York on Tuesday, a day after Mr Jobs announced he was taking another medical leave of absence, but they recovered during the day's trading to close down 2.25 per cent at US$340.65 (S$437.16). Apple, whose share price rose 60 per cent last year, had closed at a record high of US$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 US$6 billion on revenue of US$26.74 billion. In announcing Monday he was going on medical le...

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