chakote Steve Jobs

You want to know how skittish Apple investors are and how little conviction they have in the company, or trust in its message, look no further than today's Gizmodo rumor fiasco.

The blog reports a serious decline in Steve Jobs' health as the real reason for his decision to pull out of the Macworld tradeshow keynote address, and the stock tanks. Apple shares

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[AAPL  Loading...      ()   ] had spent the day in the green before these headlines hit the tape, and then promptly turned red.

Never mind the Gizmodo report was flimsy at best. Never mind the blog seemed to distance itself from its own report. Traders and their hair triggers swiftly yelled "Sell!" — and rumor overshadowed reason once again.

I spoke to Apple after these headlines crossed and the company, which officially doesn't comment on rumors, reiterated the reasons it offered two weeks ago: Apple was pulling out of Macworld because the company didn't see the need to continue its investment in the expo, which included Steve Jobs' keynote.

I was told this morning (Tuesday) that nothing has changed since then. The same reasons apply today that applied two weeks ago.

I was told two weeks ago by sources inside Apple that the decision had nothing to do with Jobs' health. I got the same message today. Period.

I will say again: if Apple is lying, holding some truth back, manipulating its own stock by manipulating the truth, someone — indeed a lot of people — could be going to jail. Do I like the way Apple has handled this ongoing story? No. But do I traffic in rumors to fill the void the company has created by not choosing to be more forthcoming about Jobs' health? Absolutely not.

When Apple's got something material to report, I trust that it will. Meantime, unsourced garbage nuking its shares is just that.

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