Do Investors Care if Steve Jobs is Healthy?
Atlantic Economic Journal
January 12, 2011
Steve Jobs of Apple, Inc., is one of the best known CEOs in the world, and some stock analysts have termed him “irreplaceable.” Using conventional event study methods, the authors test the magnitude of these announcements on Apple’s share price and its market capitalization. This article focuses upon nine “events” between 2004 and 2009 in which new information about Mr. Jobs’ health was flushed into the marketplace, on occasion by Apple itself, but more often by the commentary and speculations of media observers, stock analysts and bloggers. The article outlines the extent to which Jobs’ health has had an impact on Apple’s share price and market capitalization.