Wall Street is cutting ratings on Apple (AAPL) in light of CEO Steve Jobs’ leave of absence, but Apple co-founder Steve Wozniak is reassuring nervous investors Apple will persevere. Sort of.
Woz makes the good point that Apple products spend one to two years in development, so a Jobs absence of six months shouldn’t impact Apple’s product line too much. He also says that Steve will likely dream up all sorts of new Apple hits during his “rest.”
And if Jobs doesn’t come back? “One careful mind that sees — that has the clear vision — has to be in control and not large conglomerations of people… a lot of the key products are attributed to Steve.” But then he backpedals a bit: “The culture of a company can be ongoing while he’s away.”
See Woz speak for yourself: