CEO Steve Jobs will take a medical leave of absence until the end of June. Apple COO Tim Cook will take over for Steve Jobs until then. Trading is halted until 5 p.m. ET, CNBC estimates.
In a letter to Apple employees, Steve said, "during the past week I have learned that my health-related issues are more complex than I originally thought." Last week, Steve disclosed that he was suffering from a "hormone imbalance."
CNBC's Jim Goldman says he spoke to two well known tech execs last week, one expressing "dire concerns" about Jobs' health. Another exec said Jobs was in a "state of denial" about his health.
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