10:45 am - Saturday November 1, 2014

Apple Inc Shares Drop After Steve Jobs Announces Health Issues

Asia Bizz: Apple Inc., premier technology manufacturer in the US, has witnessed its shares fall considerably in one day, and this has come just after the Apple boss Steve Jobs announced that he is undergoing health issues. Stocks fell by almost 5% in the market, heaviest seen since sometime, and at the Nasdaq 100, the points dragged by 0.5%.

This is the second time in two years that Jobs has announced that he is feeling unwell, and its a point of great concern for all the Apple shareholders. The company is going to announce its quarterly revenue by the end of this week, after the final bell has been rung.

Apple should announce that it has earned a 47% gain in the last quarter and also a 56% gain in their total revenue, totalling at $24.4 billion. This reaction had been predicted before hand, as Jobs was about to take his medical leave. He has announced that he will not take part in the day to day management of the company, but rather will be present in the important decisions taken Apple Inc.

Source: CNN

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