Apple Stock Opens Down 5% on Steve Jobs Leave of Absence
Apple's stock opened for trading at $327.05 per share this morning, down over 5% from its close on Friday, with the dip clearly related to Steve Jobs' announcement that he will be taking a new medical leave of absence from the company. The stock has been rebounding in the few minutes the market has been open for trading, however, and currently sits at about $336 per share, or down 3.5%.
Apple appears to have strategically released the news of Jobs' leave yesterday morning on Martin Luther King, Jr. Day, a U.S. holiday when the stock markets would be closed and would give investors a day to absorb the news before making moves with their holdings of the company's stock. Apple's stock was being traded on the Frankfurt Stock Exchange yesterday, closing down about 6.6% and offering observers an expectation of what would happen this morning.
Another factor likely playing into Apple's timeframe for announcing Jobs' leave is the company's quarterly earnings announcement scheduled for after the close of the market today. Apple is widely expected to beat analyst estimates, performance that could offer the company's stock a lift to at least partially offset today's decline on Jobs' health worries. We'll have full coverage of the earnings release and accompanying conference call, where analysts are certain to question Apple executives seeking to learn more about how the company will be run during Jobs' absence and when we might expect him to return.
Update: As of 1:30 PM Eastern Time, Apple's share price has climbed back up to $343 per share, down only 1.5% for the day.
Update 2: Apple's share price close regular trading for the day at $340.65, down 2.25%. Apple's earnings release is forthcoming, and the stock will likely move relatively significantly in extended trading following the release.
Popular Stories
Apple provided developers with the third beta of an upcoming iOS 26.2 update, and there are still new features that are being added with each beta that we get. We've rounded up all of the changes that Apple made in beta 3.
AirDrop
Apple added new AirDrop functionality, providing a way for two people to share files temporarily without having to add one another as contacts.
iOS 26.2...
Apple today announced an expansion of AppleCare+ coverage in India, with new options for monthly and annual plans, and the addition of Theft and Loss for iPhone for the first time.
Options for monthly and annual AppleCare+ plans in India provide more choice and flexibility, allowing users to keep coverage for as long as they require. Apple's vice president of Worldwide iPhone Product...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max.
One thing worth...
Apple's annual four-day Black Friday through Cyber Monday shopping event is returning on Friday, November 28 through Monday, December 1 in many countries, including the United States, Canada, Australia, New Zealand, France, Germany, Italy, Spain, the United Kingdom, Belgium, the Netherlands, Sweden, Thailand, and others.
During the shopping event, customers can get an Apple gift card with...
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps.
Starting this Wednesday, November 19, the feature will be available to residents of Illinois.
The announcement confirmed that the...
A new study has revealed that the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air achieve significantly faster average Wi-Fi speeds compared to the iPhone 16 series, thanks to Apple's custom-designed N1 chip.
The study was conducted by Ookla, the company behind the popular Speedtest website and app. It said the results are based on global, crowdsourced Speedtest user data...
Apple's eighth-generation iPad mini is highly likely to arrive next year, offering a significant refresh of the device with at least four major new features.
OLED Display
The next-generation version of the iPad mini could feature an OLED display, as part of Apple's plan to expand the display technology across many more of its devices. Apple's first OLED device was the Apple Watch in 2015, ...
We're getting closer to Black Friday, which lands next week on Friday, November 28. In the lead-up to the shopping holiday, we're tracking a few lowest-ever prices on Apple's most popular Macs, including the M4 MacBook Air and brand new M5 MacBook Pro.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment,...
We're officially in the month of Black Friday, which will take place on Friday, November 28 in 2025. As always, this will be the best time of the year to shop for great deals, including popular Apple products like AirPods, iPad, Apple Watch, and more. In this article, the majority of the discounts will be found on Amazon.
Note: MacRumors is an affiliate partner with some of these vendors. When ...
Apple today released updated firmware for several accessories, including the 140W USB-C Power Adapter, the Magic Trackpad 2, the Magic Trackpad USB-C, the Magic Keyboard with Touch ID, and the Magic Keyboard with Touch ID and Numeric Keypad.
There is no word on what's included in the updated firmware at this time, but it could offer performance improvements and security updates. Accessory...
