It looks as though an unfounded rumor on CNN’s iReport claiming Steve Jobs has had a heart attack sent the Apple stock to 52-week low. The SEC is investigating the source of the rumor. CNN’s iReport is a user driven rumor mill and CNN is not taking any responsibility for the fabricated rumor.
Although this is a rumor, it’s still some pretty scary news. Even the slightest inkling that Jobs’ health is going downhill takes the Apple stock into a nosedive. This is partly because of the uncertainty that is surrounding succession and the ambiguity of Jobs’ present health. All of these factors combine to create a very volatile stock price. Let’s not even mention the economic downturn our country is having at the moment. Investors are looking for a guaranteed profit at this point in the market and it’s frightening to think Apple may not be it.
According to Apple spokesmen, Jobs is healthy as a horse. Obviously, we shouldn’t be worried in the least.