Apple Halted Temporarily in After-Hours Trading

Don’t shoot the messenger.

Unfortunately, the market can be insensitive at times and when news hit the market that Apple’s (AAPL, $85.33, down $2.38) co-founder and CEO Steve Jobs would be taking a medical leave of absence until the end of June, the stock was halted.

After-hours trading on Apple shares just opened up and the stock is down another $6 to $79.

Wall Street has been watching this situation very carefully and when news hit that he wouldn’t be speaking at MacWorld last week, rumors of his health hit full gear.

Jobs had successful surgery to treat a very rare form of pancreatic cancer back in 2004 and in an a letter on Wednesday said “the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.”

The company also said Chief Operating Officer Tim Cook will be responsible for Apple’s day-to-day operations while Jobs is away. Here’s to a quick recovery for Jobs and hopefully he will be alright.

Rick Rouse
Rick@OptionsMentoring.com

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