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(AP) - Apple Inc. co-founder and Chief Executive Steve
Jobs said Wednesday he is taking a medical leave until the end of
June -- just a week after the cancer survivor tried to assure
investors and employees his recent weight loss was caused by an
easily treatable hormone deficiency.


      Jobs, 53, said in a letter last week that he would remain at
Apple's helm despite the hormone problem, and that he had already
begun a "relatively simple and straightforward" treatment. But in
an e-mail to employees Wednesday, Jobs backtracked.


      "During the past week I have learned that my health-related
issues are more complex than I originally thought," he wrote.


      Apple's shares have surged and crashed over the last year in
step with rumors or news about the CEO's health and his gaunt
appearance. 


While the top executive's health is an issue for
investors in any company, at Apple the level of concern reaches
fever pitch because Jobs has a hand in everything from ideas for
new products to the way they're marketed. 


Investors fear that
without Jobs, Apple will not be able to sustain its growth of the
last decade, which has seen Apple branch out from its Mac computers
into the iPod and the iPhone.


      Last week, Jobs said his disclosure of his hormone problem was
"more than I wanted to say, and all that I am going to say" about
his health. It came on the eve of Macworld, the biggest Apple trade
show of the year, and Jobs said he wanted everyone to relax and
enjoy the show.


      Even so, the limited amount of medical information in that
announcement did little to soothe Wall Street's nerves, and in
interviews last week analysts predicted that the health watch would
continue.


      Apple's history of keeping information about Jobs' health under
wraps is only fueling the speculation. The company waited until
after Jobs underwent surgery in 2004 to treat a very rare form of
pancreatic cancer -- an islet cell neuroendocrine tumor -- before
alerting investors. 

That type of cancer is easily cured if
diagnosed early, unlike the deadlier and more common
adenocarcinoma.


      And last summer, Apple insisted Jobs' weight loss was due to a
common bug, even as The New York Times cited anonymous sources who
said Jobs had undergone "a surgical procedure" to address the
problem.


      Apple's chief operating officer, Tim Cook, will take over Jobs'
responsibilities while he is on leave, though Jobs said he plans to
remain involved in major strategic decisions while he is out.


      Cook is seen as one of Jobs' most likely successors, along with
Apple's top marketing executive, Philip Schiller.


      "Tim Cook is a very experienced and highly regarded chief
operating officer," said Calyon Securities analyst Shebly Seyrafi.
"He's qualified."


      Apple's shares slid $6.19, or 7.3 percent, to $79.14 in
after-hours trading.
      

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Apple Inc. co-founder and Chief Executive Steve
Jobs said Wednesday he is taking a medical leave until the end of June -- just a week after the cancer survivor said his recent weight loss was caused by an easily treatable hormone deficiency.

Apple CEO Jobs takes leave of absence for health reasons

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