Steve Jobs Takes Another Medical Leave of Absence

Apple (NASDAQ:AAPL) shares fell in Germany after CEO Steve Jobs notified the company and its employees that he would be taking a second leave of absence due to medical reasons. U.S. shares are not trading due to the Martin Luther King, Jr. holiday. This is the second leave of absence Jobs has taken due to medical reasons, but the first since having a liver transplant in 2009. In a letter to employees, Jobs wrote that he will remain CEO and be involved in major strategic decisions. He also stated that Chief Operating Officer Tim Cook would take over day-to-day operations. Jobs concluded by saying "I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy." Apple is scheduled to report earnings today after the close of trading.