For Now, Apple, Jobs Get Benefit of Doubt

Apple Computer (AAPL Quote), which has gone from Wall Street darling to dog many times over the years, probably won't uncover any serious wrongdoing from its internal investigation into options backdating, analysts say.

On Thursday, the maker of the iPod and Macintosh computer said it found irregularities in some stock-option grants made between 1997 and 2001. One of those options was to Chief Executive Steve Jobs, but Apple says he got no financial gain from it. He was awarded restricted shares after the cancellation of that grant.

A special committee of Apple's outside directors has hired independent counsel to perform an investigation, and the company has informed the Securities and Exchange Commission. ...