Thursday, August 25th, 2011
Tim Cook most candidate to replace Steve Jobs as CEO of Apple
Steve Jobs, the visionary co-founder of Apple Inc. and driving force behind a string of products that revolutionized the consumer-electronics industry, stepped down as chief executive on Wednesday.
But the move wasn’t a completely unexpected one.
His departure from the CEO post had been widely anticipated ever since Jobs took an extended medical leave earlier this year to attend to undisclosed health reasons. He underwent surgery for pancreatic cancer seven years ago and had a liver transplant two years ago. (more…)
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Thursday, August 25th, 2011
Steve Jobs has battled a rare form of pancreatic cancer for years, undergoing a series of aggressive treatments, including a liver transplant, and surviving longer than many others with the disease.
His decision to step down as Apple’s CEO, however, signals that his disease — kept in check for more than seven years — is advancing beyond doctors’ ability to control it, experts say.
While no one can say how Jobs will fare, “I suspect we will not be talking about years” of additional survival, says Zev Wainberg, a gastrointestinal oncologist with UCLA’s Jonsson Cancer Center with no personal knowledge of the case.
Jobs suffers from a pancreatic neuroendocrine tumor, which accounts for only about 5% of the 43,000 pancreatic cancers diagnosed each year, and is generally more curable than more common types of pancreatic cancer, says Margaret Tempero, a pancreatic cancer expert at the University of California-San Francisco and former president of the American Society of Clinical Oncology. Patients with the most common form of pancreatic cancer often live less than a year, says Tempero, who hasn’t treated Jobs.
Neuroendocrine tumors, which arise in hormone-producing cells of the pancreas, typically grow much more slowly, allowing patients to live at least two or three years, says Wainberg, who hasn’t treated Jobs. (more…)
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Wednesday, August 10th, 2011
Apple’s market value briefly surpasses Exxon Mobil’s during stock trading Tuesday, but a last-minute surge enables the oil giant to remain No. 1 — at least for now.
In the eyes of investors, Apple Inc. is as good as gold.
Shining alongside the precious metal as two safe buys in a volatile market, Apple shares surged Tuesday, briefly pushing the consumer electronics giant past Exxon Mobil Corp. to become the world’s most valuable company.
The market value of Apple rose to $346.7 billion a few minutes before the end of regular trading, nearly $5 billion above Exxon’s at $341.9 billion. But a last-minute market surge pushed Exxon back above Apple by about $1.6 billion.
Exxon is not likely to stay ahead much longer. Propelled by iPhone and iPad tablet sales, Apple has been closing in on the oil giant for more than a year, since Apple passed Microsoft Corp. to become the second-most-valuable company in May 2010. Back then, Apple was worth $50 billion less than Exxon. (more…)
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