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Jobs Not Attending Macworld Expo
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In late breaking news Dylan Ratigan reveals that Apple CEO Steve Jobs will not be attending the upcoming Macworld expo in January.
The development stunned Wall Street which pushed Apple stock [AAPL
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] nearly 3% lower in after hours trade as investors feared that the decision meant that Steve Jobs was not in good health.
Instead of Jobs, Philip Schiller, the senior vice president of worldwide product marketing, will deliver the keynote.
Asked whether the change was related to Jobs' health, Apple spokesman Steve Dowling said: "Phil is giving the keynote because this will be Apple's last year at the show, and it doesn't make sense for us to make a major investment in a trade show we'll no longer be attending."
CNBC’s Jim Goldman does not think there’s more than meets the eye here.
"I don’t think Steve Jobs is sick,” he says. “Apple has long preferred to do its own events and I think that’s what’s happening here. It’s Apple trying to take ownership of it’s own brand.”
Despite its name, Macworld is put on by an outside group.
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Trader disclosure: On Dec. 16th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (DIS), (MCD); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (MSFT), (PM), (MO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO); Seymour Owns (AAPL), (BAC), (EEM), (F), (GE), (INTC), (MER), (SSL); Seygem Asset Management Owns (CHL)
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