11/22/2008 05:12 am ET Updated May 25, 2011

How Much Of Apple's Value Is Steve Jobs?

Apple's single biggest corporate priority is (or should be) to diversify its dependence on Steve Jobs. In the past month, investors have gotten two stark reminders of just how much value the market attributes to Steve's ongoing health and presence:

* A fraudulent report that Steve Jobs had had a heart attack (10% drop in stock in 10 minutes)
* A surprise appearance on Apple's quarterly conference call yesterday (stock immediately up about 10% in after-market)

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