Steve Jobs retakes spotlight to promote Apple's new iPod line

SAN FRANCISCO -- Apple CEO Steve Jobs returned to the public spotlight Wednesday for the first time since taking a medical leave earlier this year, saying he "wouldn't be here" had it not been for a liver transplant.

His previous major public appearance was at an Apple event last fall, where his thin physique spurred questions about his health. By the end of the year, the company announced he would take a medical leave. He returned in June.

At the event Wednesday, Apple introduced new updates to its iPod line, along with software additions, but much of the attention was focused on having Jobs back on stage. Wearing his trademark jeans and black turtleneck shirt, Jobs was still very thin, a little less energetic than before, but clearly in control.

"Steve made a statement: I'm back, and I'm the leader," says Gene Munster, an analyst at Piper Jaffray.

In a conference room afterward, with new Apple products nearby, Jobs clearly relished his return.

"I'm feeling fine. It's great to be back at work," he told USA TODAY.

Jobs' medical leave ushered in a wave of concern about whether Apple could survive without him. Few companies are as identified with a CEO as this tech icon, who is credited with overseeing the most minute details of the Apple universe, from the colors of an Apple retail store to the shape of a new iPod.

Charles Wolf, an analyst at Needham & Co., says there is a "Jobs premium" on Apple stock, which closed Wednesday at $171.14, down $1.79, after reaching a 52-week high of $174.47 earlier in the day.

While Jobs was gone, the company was run by Chief Operating Officer Tim Cook. Executive Vice President Phil Schiller filled in on live product demos. Apple survived.

For Wednesday's presentation, Jobs was on stage for about 25% of the one-hour event. The rest of the time was given to other Apple executives. "Apple realized it had too many eggs in Steve's basket," says Michael Gartenberg, an analyst at Interpret. "It's the one lesson they learned: There's more to Apple than just Steve."