Apple CEO's Private Matter a Public Issue

But now the New York Times reports, citing sources close to Jobs, that he may have undergone a surgical procedure to address a "problem" that was contributing to his weight loss.

Despite the unofficial disclosures to the media, the company isn't saying anything on the record. "Steve loves Apple. He serves as the CEO at the pleasure of the board and has no plans to leave Apple. Steve's health is a private matter," Apple CFO Peter Oppenheimer said Monday in response to a pointed analyst question.

But the decision to not offer more information has left the field open to conjecture, say analysts.

"While the topic is delicate, we believe the absence of a straightforward denial of health issues will increase speculation of a worst case scenario," said Chris Whitmore, an analyst with Deutsche Bank, in a research note Tuesday.

Despite the larger-than-life personalities of their founders, few technology companies, including Oracle(ORCL Quote), Google(GOOG Quote) and even Microsoft(MSFT Quote) have seen the identity of their founder so tightly tied in investor minds to the company's future.

Because of that, Apple should be more forthcoming, agrees one portfolio manager who didn't want to be named, but whose fund holds shares of Apple. "People are concerned about Steve Jobs' health, and Apple hasn't done anything to address whether it should be a concern," he said. "Whether his health is a private matter or not is debatable, but because of his position there is no denying it is of interest to shareholders."