Apple's Jobs Will Take Medical Leave

Stating that his health problems are "more complex than I originally thought," Apple founder and CEO Steve Jobs on Wednesday announced that he will take a five-month leave of absence from the company. Tim Cook will run the company from day to day, although Jobs will remain involved in decisions.

Following months of speculation about his health, Jobs wrote a letter late last month revealing that he was suffering from a hormone imbalance, which was the cause of his recent weight loss; he also wrote at the time that he planned to remain as CEO.

After Jobs' announcement, which came after the close of trading, Apple's stock dropped more than 7 percent in after-hours trading.