Argus Research: Steve Jobs Lego Solid

Apple Inc (NASDAQ:AAPL) shares gained 6% as everything non-financial rallied today.  Wendy Abramowitz from Argus Research does not believe Apple CEO Steve Jobs’s health is deteriorating.  Off shares went to the races.

The Argus analyst did lower her price target on Apple Inc. shares to $145 from $155 but they do not believe that Mr. Jobs health is deteriorating rapidly.  Ah, the beauty of speculation.

Wendy Abramowitz lowered her earnings estimate for Apple for the December-ended fiscal Q1, from $10.1 billion and $1.54 in EPS to $9.7 billion and $1.52, which appears to have mainly to do with the fact that December’s margins will be lower than the December quarter of 2007 when the company was riding the release of the Leopard operating system.

Argus Research says Apple remains in a strong position, except for questions surrounding the health of CEO Steve Jobs. If Mr. Jobs is unable to lead the company in the near future, Apple may face some transition-related challenges. But they believe that the company will begin to expand the responsibilities of other top executives to plan for a successful adjustment.