The Apple chief executive, Steve Jobs has announced that he is taking a medical leave until June. The move by the company CEO confirms some of the loose talks that all is not well in the company or at least something is wrong on the health of their CEO. Steve Jobs is a cancer survivor too. Following the announcement of Steve Jobs, the shares of the company plunges 7 percent. The chief operating officer of Apple, Tim Cook will take over the responsibilities left by Steve Jobs. But it was announced that Jobs will still have a say on the company’s major strategic decisions. Just a week ago, the Apple CEO talked to company investors and employees about the current situation of his health and he added that his weight loss was caused by an easy-to-treat hormone deficiency. But the investors of the company were not convinced, and his health has served as a distraction for the company. For the past year, the shares of Apple have moved alongside the usual announcement about the condition of his health. And now, with the announcement of leave, the shares of the company dropped 7 percent. It was also Tim Cook who ran the company in 2004 when Steve Jobs was recovering from his cancer surgery. Others are saying that this will serve as Tim Cook’s trial period as Apple CEO. The shares of the company slid $6.03 to settle at $79.30 after the announcement and this figure was 7.1 percent lower than the original share price.