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How much is Steve Jobs worth to Apple? According to Henry Blodget, writing on Silicon Alley Insider, about $20-billion (U.S.) The company reported fine third quarter results after the market closed on Tuesday, and the shares were up 8.1 per cent on Wednesday – an impressive performance given the economic jitters and the fact that the rest of the stock market was in deep sell-off territory.

But Mr. Blodget can't help but notice how integral Mr. Jobs, who has been hit with rumours about his health, is to Apple. After a fraudulent report earlier this month suggested that Mr. Jobs had suffered a heart attack, Apple's shares fell 10 per cent in just 10 minutes. Then, when Mr. Jobs made an unscheduled appearance on Apple's quarterly conference call on Tuesday, the stock immediately zipped up 10 per cent in after market trading.

“Neither of these stock moves illustrates the market's full estimate of Steve's value to Apple,” Mr. Blodget said. “If he were to leave the company, for whatever reason, the stock fall could easily be double the move in the hour after the heart-attack report – or more.”

A 20 per cent move would represent about $20-billion of Apple's market capitalization.

“Steve and Apple need to find a clear, strong No. 2 soon, and then Steve needs to start sharing the stage with him or her,” Mr. Blodget said. “This person can come from within Apple or outside of it, but investors need to know who it is. The sooner the better.”