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Analyst sees Steve Jobs remaining Apple chief
Even though there are currently 150 companies undergoing stock option investigations—which have resulted in the resignations of 9 CEOs and at least 27 executives or directors—Piper Jaffray’s Gene Munster believes Steve Jobs will remain Apple’s CEO. Munster said today that Jobs should be in the clear, given that he was aware of these grant dates but was not aware of the accounting treatment and did not benefit from them. “We believe the options backdating issue is in Apple’s rearview mirror and Steve Jobs will remain Apple’s CEO,” Munster said. “Although these issues tarnish Apple’s squeaky clean image, they do not impact the company’s underlying fundamentals. As a result, we expect investors to shift their focus to CPU market share gains and strong iPod sales through the upcoming holiday season.”
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1
Of course the world’s hippest CEO can’t be taken down by a little bit of fraud. I don’t think ten times the amount of fraud he committed could take Jobs down.
Posted by Talking Madness in Los Angeles on October 18, 2006 at 12:33 PM (PDT)
2
Jobs’ is certainly the cornerstone, keystone, and has promoted the milestones of Apple today. I dread the day when he leaves—Apple will never be the same.
Posted by FahrenheiPod 451 on October 18, 2006 at 3:15 PM (PDT)