Can Apple thrive without its visionary CEO?
If investors were as visionary as Steve Jobs has proved to be during his 35 years of tech wizardry, they might be able to figure out whether Apple can still thrive if its founder and CEO doesn't return from his indefinite medical leave. But Jobs' prescience is a rarity, which is why doubt and anxiety will probably hang over the company until his fate is clearer. The iPod-iPhone-iPad revolution that Jobs unleashed over the past decade should ensure that Apple's revenue and earnings keep growing for at least the next two to three years, according to analysts. What's more, Jobs has assembled and trained a savvy, hard-driving management team that should be capable of following his road map for the company. The question is whether Apple can remain a step ahead and develop products that reshape technology, media and pop culture if Jobs isn't around to divine the next big thing. Without Jobs, "Apple is a lot more like other companies. Its extraordinariness fades," says technology analyst Roger Kay of Endpoint Technologies Associates. Apple Inc. announced Monday that Jobs, who co-founded the company in 1976, would take an indefinite medical leave for unspecified problems. The leave could be related to his previous bout with pancreatic cancer or his 2009 liver transplant. Jobs' value is difficult to gauge because of the sheer force of his personality, said Robert Sutton, a professor of management science at Stanford University who has studied Jobs and Apple. "Anyone who thinks they can estimate that is probably lying," Sutton says. Apple barely missed a beat the last time Jobs was gone, and its stock climbed more than 60 percent as sales of the iPhone and Mac computers surged, even as the recession dragged on. That's a testament to Apple's chief operating officer, Tim Cook, who will be in charge while Jobs is away once again. In a Tuesday conference call to discuss Apple's earnings, Cook predicted Apple will still shine.
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