Apple is not a one-man company.

Ever since Jobs took the reigns of Apple in 1997 he has surrounded himself with a team of executives that reflect his vision for the company. Apple's chief designer Jonathan Ive is recognized as one of the top product designers around. Apple's is a master of logistics. The point is, Apple has at its disposal to weather the storm and continue innovating.

There is only one Steve Jobs. There isn't a person on Earth who could actually replace him. That said, in Jobs' absence, Apple should be fine. There's enough of a brain trust there to be able to carry the company. When Jobs does decide to retire (for health reasons or otherwise), a "" approach won't cut it of course, so Apple would be a different company without Jobs guiding it, but it wouldn't die.

In fact, since its inception, Apple has been a company that has fostered innovation. Apple innovated without Jobs, but what they lacked was direction. Jobs provided direction and focus to a company that had none in 1997. As long as Apple maintains its zeal for taking risks and pushing the envelope, and can stay focused, Apple should be fine with or without Jobs.

Speculating on Jobs's health is a waste of time and energy.