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Apple CEO Steven Jobs Given Medical Leave of Absence

Apple CEO Steven Jobs has been given a medical leave of absence. The CEO will continue to perform all major decisions for the company during his absence but has enlisted Chief Operating Officer Tim Cook to handle Apple's daily operations. Jobs made the announcement of his leave via an email sent to all employees.

In the email, Jobs stated: "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."

This is Jobs' second medical leave since 2009. That year, Jobs underwent a liver transplant after battling pancreatic cancer in 2004. Apple investors and stock experts expect the announcement to adversely affect the company with large scale fluctuations predicted.

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