INSTANT VIEW: Apple CEO Jobs to take medical leave

NEW YORK (Reuters) - Apple Inc Chief Executive Steve Jobs said on Wednesday that he had discovered that his health-related issues were more complex than he had originally thought and that he had decided to take a medical leave of absence.

Jobs, who earlier this month said his recent weight loss had been caused by a hormonal imbalance that was relatively simple to treat, said he had asked Tim Cook, currently the company's chief operating officer, to be responsible for the company's day-to-day operations while he is on leave.

The following is reaction from industry analysts and investors:

BRIAN MARSHALL, ANALYST WITH BROADPOINT.AMTECH IN SAN FRANCISCO

"This is obviously very sad news but I do think it's the right thing to do. The next six months are going to be basically a trial period for Tim Cook to be CEO. And if that period goes well, my expectation is that Steve will pass the baton over to Tim in June and basically Steve will be his senior adviser."

"I think he will step down as CEO when this is over and I believe he will be a senior adviser going forward."

"Jonathan Ive, who is the head of product development, along with his team, in conjunction with Steve, are a very able team and will be able to continue to put out innovative products and identify the proper strategic directions that they need to go to.

"The stock will be volatile, but I think we're approaching bottom from a valuation perspective. So pretty soon we can start to get constructive."

TED PARRISH, PORTFOLIO MANAGER AT THE HENSSLER EQUITY FUND IN KENNESAW, GEORGIA, WHICH OWNS APPLE STOCK

"You can't really dismiss the idea that if he (Steve Jobs) would be gone from the company it would be a great loss, but there are a lot of innovative minds at Apple."

"The company is in a great position, its product cycle is strong and we would buy Apple (shares) on weakness associated with this news."

KIM CAUGHEY, SENIOR ANALYST, FORT PITT CAPITAL GROUP IN PITTSBURGH, WHICH MANAGES ABOUT $800 MILLION AND DOES NOT HOLD APPLE SHARES

"This was to be expected. For him to have disclosed that he had even a hormonal imbalance indicates that he was seeking treatment for something."

"Steve Jobs -- for better or worse -- is Apple at this point. Whether or not there are people who could take his role, whether several people combined could take his role, at this point that is unknown. Investors do not like the unknown."

TIM GHRISKEY, CHIEF INVESTMENT OFFICER, SOLARIS ASSET MANAGEMENT IN NEW YORK, WHICH HOLDS APPLE SHARES AMONG THE $2 BILLION IT MANAGES

"You don't knows how bad this is. Who knows except his doctors and him at this point."

"This certainly doesn't sound good. It's been an overhang on the stock. that had somewhat dissipated after he made his comment that it was something very specific and treatable. Now we just don't know."

"Steve Jobs is Apple. Having said that, it is a very deep team. They've got an amazing product lineup. They've got an amazing pipeline. It is a brand people love and it's certainly not going away."

"Certainly the company will continue but Steve Jobs has been a visionary and very active in design. Those are big shoes to fill on a long-term basis if he is not able to fill them."

MIKE BINGER, FUND MANAGER AT THRIVENT FINANCIAL, INMINNEAPOLIS, WHICH OWNS APPLE SHARES:

"In hindsight, it's not that surprising. Obviously there's been something wrong with Steve's health. That he needs to take time off, would kind of confirm what people had feared all along that there's probably more of a serious issue than they have let on to in the past. And since he's taking off till June, the market and Steve are both hoping that he will be back.

"Tim's been around Apple for a long time. And Apple is just not one person. They've got a deep level of management expertise.

"I'm assuming the stock will be down.

"What's more important is the overall economy and people's ability to pay a thousand dollars for an Apple notebook or pay $75 or $300 for an iPod or pay $200 for an iPhone. That's more pertinent to where the stock is going to go than how involved Steve is on a day-to-day basis."

TOM SOWANICK, CHIEF INVESTMENT OFFICER FOR $22 BILLION IN ASSETS AT CLEARBROOK FINANCIAL LLC IN PRINCETON, NEW JERSEY

"It's something we don't need right now. This Apple news gives investors more angst to digest and get through and take itself out of. Yes, the markets have (been) building in risks with respect to Steve Jobs' health, but Apple shares will still get hit in the morning. I think the stock price will go down but not get pounded. Steve Jobs is known as the company but we have to see how well his 'support system' -- the people he put in place -- will hold up. We will see how good Tim Cook, his replacement, will be."

SHANNON CROSS, CROSS RESEARCH, LIVINGSTON, NJ

"I think Apple has a deep bench, Tim Cook has taken over for Steve when he was ill a few years and to a large extent it will still be business as usual. He will still be involved probably just not a day to day basis. This is probably part of the transition over time.

"Stock's going to be under pressure, my guess is this probably an opportunity to buy because with a deep bench of executives, operationally the company's going to continue on. Change is always a concern to investors, this at least clears up some of the questions investors had hoped were cleared up by a statement put out a week ago."

VIJAY RAKESH, THINKEQUITY LLC, CHICAGO

"I think there's nothing to worry about. Apple is in good hands. (Tim Cook) has been kind of running the day to day operations in the background for some time."

ROGER KAY, PRESIDENT AND TECHNOLOGY MARKET ANALYST, ENDPOINT TECHNOLOGIES ASSOCIATES INC, WAYLAND, MASSACHUSETTS

"I looked at the before and after pictures of Steve Jobs in 2007 and 2008, and said, he looks sick."

"Apple has, from the beginning, been unable to be truthful about Steve's condition. The stock price may already reflect some of the uncertainty about his health."

"Apple is more dependent on its CEO than most other companies. Steve is a critical judge of the company's business, and that maestro role that he performs is what make Apple great. But there is no maestro-in-training to take over Steve's role.

(Reporting by Jon Stempel, Rodrigo Campos, Jennifer Ablan, Yinka Adegoke, Sinead Carew, Jim Finkle, Nichola Groom and Muralikumar Anantharaman)