The recent report of Apple CEO’s, Steve Jobs, heart attack caused Apple’s stock to drop. The problem with this news is it wasn’t true. The report posted on iReport.com (a citizen journalist website that is owned by United States based Time Warner Inc., CNN) stated that Steve Jobs had been rushed to the emergency room after suffering “a major heart attack.”

Reuters stated that this claim was posted on iReport.com. iReport.com is a “citizen journalist” website owned by Time Warner Inc., CNN. Citizen journalism website allows any registered users to submit a story. Apple was quick to deny this report and CNN was quick to remove the article but not before it affected Apple’s stock. Apple’s stock dropped more than 2 percent.

I’m an Apple stockholder and I’ve always found it annoying to see my Apple stock take a hit solely based on Steve Jobs health. Many people put a lot of faith in Steve Jobs and feel if something were to happen to him then Apple would fail. After Steve Jobs appearance at the WWDC ‘08 event Apple stock dropped and the media was filled with speculations about Steve Job’s health.

Why do some stockholders place such a huge emphasis on Job’s health? Steve Jobs has an amazing knack at turning lagging companies around. He did it with Apple when he came back to work for it in 1997. Over the years the demand for Apple products like the Macs, iPhone, and iPod have continued to gain popularity. Apple’s iTunes is currently the number one music retailer in the United States. However, this isn’t the only company that Jobs was able to turnaround. Job’s was responsible for rescuing Pixar Animation Studios and turning it into one of the most successful motion picture studios.

Steve Job’s is a visionary and has done a lot to turn Apple around, but he hasn’t done it alone there are many talented people that work for Apple, and I believe it will continue to succeed. Although Apple stock dropped to $94.65 it was quick to bounce back climbing as much a 4 percent and closed the day at $97.07.

CNN was quick to remove the report but I do think they are partially responsible it would make sense for CNN to moderate articles before they go live to prevent this false reporting from happening again.