Countering speculation that Apple (AAPL) Chief Executive Steve Jobs's health is waning, Jobs said Monday he’s suffering from a hormone imbalance and is not on his deathbed.
In a letter to the Apple community, Jobs said that while his decision to not deliver the keynote address during the upcoming Macworld prompted rumors about his health, the reason he has been losing weight is because of a hormone imbalance that has been “robbing” him of proteins needed to be healthy.
“The remedy for this nutritional problem is relatively simple and straightforward, and I've already begun treatment,” said Jobs in the letter. “But, just like I didn't lose this much weight and body mass in a week or a month, my doctors expect it will take me until late this Spring to regain it. I will continue as Apple's CEO during my recovery.”
For weeks now speculation has swirled about the health of Jobs, who the company repeatedly said was fine. His cancellation at MacWorld pushed many investors over the edge and forced Jobs to address the issue. In the letter, Jobs said his weight loss throughout 2008 was a mystery to himself and his doctors, and finding out the reason was his number one priority. Through testing and sophisticated blood tests, Jobs discovered he has a hormone imbalance. In mid-2004 Jobs underwent treatment for a rare form of pancreatic cancer. Pancreatic cancer has a low survival rate, but Jobs has said he had a less aggressive form and was treated successfully.
Charles Bregier, a doctor at Presbyterian Hospital in Charlotte, N.C., said forms of pancreatic cancer could be associated with weight loss and other gastrointestinal tract symptoms. He said the symptoms can show up years later.
“One type of pancreatic problem treated can lead to other types of pancreatic problems instead of a reoccurrence of the primary one,” said Bregier.
Hormone imbalances, while not thought to typically occur in males, happen naturally as men and women age, said Doctor Steven Hotze, founder of the Health & Wellness Center in Houston, Texas.
People at age 50 have just one-third of the hormone levels they had at their peak in their early 20s. The decline in hormone levels can impact brain function, mood, drive, analytical ability, muscle growth and weight.
Hotze said patients can be treated by either drugs that will alleviate the symptoms, or by checking hormone levels and replenishing the hormones. If that is all Jobs is suffering from, Hotze said he could be better by the spring.
In his letter, Jobs assured Apple followers that if he can no longer fulfill his duties as CEO he will be the first to alert the board.
“I will always put what is best for Apple first,” said Jobs. “I've said more than I wanted to say, and all that I am going to say, about this.”
Apple’s stock has taken a hit over concerns about Jobs health, as the company’s success and investor confidence have been closely tied to Jobs himself. Jobs was responsible for resurrecting Apple and launching its widely successful push into digital music, which resulted in an increase in sales of its computers and software, as well as making the iPod the de facto digital music player.
While Jobs has been quiet about his health for the past year-and-a-half as speculation swirled, investors and analysts said he had to put rumors to bed to relieve anxiety.
“He had to do this,” said Sushil Wagle, a portfolio manager at J&W Seligman, which owns shares of Apple. “There were too many people talking about too many things.”
While Wagle said Jobs is “very critical” to Apple, he said the company already has a lot of products in the pipeline and that Jobs isn’t the only executive doing things at Apple. Jobs coming out and disclosing his health problems eliminates a big question mark, but Wagle said there are still questions about Apple’s product cycle, fundamentals and competition from the lower end of the market.
“This is one of the big factors that will help the stock, at least in the near term,” said Wagle.
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