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Friday, February 11, 2011

Apple's Jobs Calls Shots From Home - WSJ.com

SAN FRANCISCO - JANUARY 27:  (EDITORS NOTE: Re...Image by Getty Images via @daylifeApple's Jobs Calls Shots From Home - WSJ.com

Three weeks into a medical leave he took "to focus on my health," Apple Inc. Chief Executive Steve Jobs is staying closely involved in the company's strategic decisions and product development, according to people familiar with the matter.

The 55-year-old Mr. Jobs, whose ailment hasn't been disclosed, has been taking business meetings at home and on the phone, these people said.

He also has been seen on Apple's Cupertino, Calif., campus and in public in Palo Alto, Calif., with a company executive, said people familiar with the matter.

Among products he is continuing to work on are the next version of the iPad tablet computer, expected out in the next couple of months, and a new iPhone, expected to be released this summer, said two of these people.

The Wall Street Journal reported Tuesday that Apple has started manufacturing a new iPad, which includes a front-facing camera and other new features, and which will be available through Verizon Wireless and AT&T Inc.

Inside Apple, meanwhile, day-to-day operations continue nearly unchanged under Chief Operating Officer Tim Cook, said people inside the company and at its business partners. While several of them said there is a sense of sadness about Mr. Jobs's health struggles, they said Apple employees are focused on their jobs and projects.

"Steve is the CEO of Apple and during his medical leave he'll continue to be involved in major strategic decisions," said an Apple spokeswoman. Messrs. Jobs and Cook didn't respond to requests for comment.

Mr. Jobs, who was treated for a rare form of pancreatic cancer in 2004 and who got a liver transplant in 2009, said in January that he would take a leave of absence for an unspecified period. His health status remains unclear. Apple has said it will say no more about his condition.

Medical experts not involved in his care have speculated that there are many reasons why he might need medical attention again, including possible metastasis of the cancer or complications arising from the transplant. People who have seen Mr. Jobs in the past few months said he continues to look thin. A drastic weight loss was one indication of the severity of the CEO's illness two years ago before he received his liver transplant.

The company and Mr. Jobs appear to be going about things in much the same way as they did during his previous medical leave, at the time of his transplant, said people familiar with the matter. During that leave, Mr. Jobs continued to work on Apple strategy and products from home.

While some people at Apple said there was concern about Apple's future during Mr. Jobs's previous leave, Apple stock rose 78% while Mr. Cook steered the company through his nearly six-month absence. Mr. Cook's performance then has made Apple employees more secure about his taking the reins again, said people familiar with the matter. One of these people said Mr. Jobs often worked from home even before his leave.

Apple's business has been gaining momentum, and people inside the company are enthusiastic about the new products and services they are working on, said the people familiar with the matter.

Last month, Apple reported a 78% increase in profit and 71% rise in revenue for the quarter ended Dec. 25 on strong demand for its iPhones, iPads and Macintosh computers. Apple is expected to see more iPhone sales in the current quarter as Verizon Wireless, a joint venture of Verizon Communications Inc. and Vodafone Group PLC, begins selling the smartphone for the first time starting Thursday.

Wall Street so far appears to be unfazed by Mr. Jobs's leave. Apple's stock has risen about 1.7% to $354.54 since Jan. 17, when he announced it.

His leave "is a concern because people view [Mr. Jobs] as the head innovator, but...I feel Apple can continue down its path with or without Steve," said Mike Binger, fund manager at Thrivent Asset Management in Minneapolis, which holds Apple shares as part of the $70 billion in assets it manages.

Some Apple watchers said they are withholding judgment about the seriousness of Mr. Jobs's health until the company's annual Worldwide Developers Conference in early June, at which the CEO traditionally gives the keynote address and unveils the latest version of the iPhone. "App developers are waiting to see if Steve will come back to give the keynote at WWDC," said Vishal Gurbuxani, a co-founder of mobile-ad company Mobclix Inc.

Apple hasn't announced the dates for this year's conference, but San Francisco's Moscone Center, which has hosted the event for the past few years, has June 5-9 blocked out for a "corporate meeting" on its online events calendar.

A spokeswoman for Moscone Center declined to comment.

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