BREAKING: Steve Jobs Takes Leave of Absence from Apple

Apple’s (NASDAQ:AAPL) stock is down over 8% on news all Apple investors knew was coming: CEO Steve Jobs’ health requires another leave of absence.

Here is the email Steve Jobs sent to Apple employees:

Team,

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company.

I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.

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.

Steve

We wish Steve a speedy recovery. Updates to follow …

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