CEO’s health issues may be a concern to investors.
Apple Inc. (NASDAQ: AAPL, Stock Forum) is starting to look top heavy, something which should be of concern to Nasdaq bulls.
Thanks to the Drudge Report, the world got to see a picture of Apple CEO Steve Jobs looking "gaunt" during a recent presentation. With Mr. Jobs' history of pancreatic cancer, the speculation about Jobs' health began.
And although the company issued a photograph from the same presentation which showed Jobs looking much better, and issued a statement about him having had some sort of "bug" and recovering from it, the damage was done.
So here's the situation. Apple has a lock on the cool gadget market. iPods, iPhones, iTunes, and related paraphernalia are essentially a money printing press for the company. And Jobs is the brain and the brawn behind the company's resurrection and return to the top of its game.
With PC sales starting to improve, and companies like Dell (NASDAQ: DELL, Stock Forum) and HP (NYSE: HPQ, Stock Forum) starting to awaken, though, any kind of significant issue with Jobs essentially puts Apple on the defensive.
Which brings us back to the company's stock chart, which looks to be making a double top. A break below 160 could take the stock to 120 at a pretty good clip, since there isn't a whole lot of support under 160.
From the look of things, Apple has to convince investors that Mr. Jobs' health is A-O.K. Thanks again to Mr. Drudge and company for making life interesting.
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