No other company is as dependent on one man as Apple is on Steve Jobs. That’s the perception anyway, so when the Apple CEO announced he is taking another medical leave, the murmurs about the fate of the world’s second-most-valuable company began immediately.

The reality is that there are very capable people running Apple’s show, and in the coming year they’re expected to announce a new iPad, a new iPhone and plenty of other ways to redistribute your wealth in their direction. — PZS

Bloomberg Businessweek:

Apple Inc. Chief Executive Officer Steve Jobs, a cancer survivor, took a leave of absence to focus on his health, putting the company in the hands of Chief Operating Officer Tim Cook for the third time in seven years.

Cook will be responsible for the day-to-day operations, with Jobs continuing as CEO, Apple said today, citing an e-mail to employees from Jobs. The Apple co-founder took an almost six-month break to have a liver transplant in 2009.

“I love Apple so much and hope to be back as soon as I can,” Jobs, 55, said in the e-mail. Jobs said he will continue to “be involved in major strategic decisions for the company.”

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