Apple Doesn't Need Jobs, Analyst Says

Apple doesn't need Steve Jobs, an analyst argued Monday. Early on Friday, Apple shares slid below $100 for the first time since May 2007 after a false report circulated that Apple's 53-year-old CEO had suffered a major heart attack. The report, posted on iReport.com, a "citizen journalist" Web site operated by CNN, was quickly denied by Apple, but not before the share price had slid nearly 11%. The panic was unwarranted, said Ezra Gottheil, an analyst with Technology Business Research Inc. "Apple doesn't need Jobs anymore," Gottheil said. "He's established three sound businesses -- Mac, iPod and the iPhone -- and the company knows how to execute his fanatical devotion to design and usability. There's a stable management team in place, and they know what they're doing." Background Investors have been nervous about Jobs' health... [read full story]