Will backdating at Apple come back to byte Steve Jobs? If it does, what's his leadership worth to shareholders? Some analysts say that if he were to leave, the stock could take a $20 billion nosedive:
``It would be a disaster,'' said Gene Munster, an analyst with Piper Jaffray & Cos. in Minneapolis, who's had an ``outperform'' rating on Apple's shares since June 2004. ``He would be almost impossible to replace.''
The computer maker's dependence on its CEO was illustrated the last week of December, when the stock dropped as much as 5.8 percent after the Recorder, a San Francisco-based legal publication, reported Apple had faked documents to backdate stock options.
On Dec. 29, the company said its own investigation, led by Apple director and former U.S. Vice President Al Gore, cleared Jobs of any wrongdoing. That eased concern Jobs may have to step down and sent the shares up 4.9 percent.
Apple's Steve Jobs Is Company's $20 Billion Asset - Bloomberg
Ive is the real key: http://en.wikipedia.org/wiki/Jonathan_Ive
Posted by: TigerUppercut | January 19, 2007 at 10:55 PM