Apple has been on fire, posting its best quarter ever with unabated iPhone growth and the iPad holding off all tablet challengers. Apple's stock, however, is cool, trailing the broader market and trading at historically cheap levels. But is that a danger sign, or an opportunity?
To get a better idea how Apple might fare without Steve Jobs's leadership, it's helpful to look at another hugely successful American company that decades ago lost its iconic CEO -- Walt Disney Co. After Walt passed away in 1966, his company didn't miss a step -- at least not for several years.
That's because Wednesday's launch is expected to be more of a refresh rather than a totally new product. However, if Steve Jobs were to show up at the launch event, that would get investors excited and likely pump up Apple shares.
At the company's annual shareholders' meeting, investors rejected a proposal by the Central Laborers' Pension Fund, which called for Apple's board of directors to establish guidelines for adopting and disclosing a written CEO succession policy.
Steve Jobs, the CEO of Apple, has only six weeks to live, according to the National Enquirer. The often sensationalist tabloid published photos in of Jobs looking extremely thin and frail, according to TNT magazine.
Twice before, the iconic CEO had to leave the company in others' hands, and if that history is any guide, Apple investors may see the stock price do well once again in his absence -- providing they can handle the pain of the drop long enough to enjoy the recovery.
It's still unclear exactly what is currently ailing Jobs, but many investors are likely thinking that it does not bode well for the future of Apple. Beyond Tuesday's trading, it will likely be a rocky road for Apple's stock until Jobs's health situation becomes clear.
For the second time in two years, the CEO of the consumer tech giant is taking a medical leave of absence to focus on his health. Jobs, a pancreatic cancer survivor, hopes to return as soon as possible and has turned all day-to-day operations over to COO Tim Cook.