For all his enthusiasm, Grannis says hes not happy with how the company handled disclosures about the health of Chief Executive Officer Steve Jobs.

“Even being a fan of Apple, I wish they wouldve been a little more forthright,” said Grannis, 59, the former chief economist at Western Asset Management Co. in Pasadena, California. “Ive felt slighted. Ive felt disappointed.”

Apples disclosures on Jobss health have some investors split: They love the company and its products yet say the board should be more forthcoming. Jobs took a five-month medical leave Jan. 14, just nine days after saying he would stay at work while receiving a “relatively simple” treatment for a hormone imbalance.

While Grannis said he hopes Jobs will regain his health, he said the lack of clarity in Apples statements raises questions about whats going on behind the scenes.

Apple holds its annual meeting today at its headquarters in Cupertino, California. The event will give shareholders the opportunity to quiz executives and directors, who have remained silent about the CEOs health since he went on medical leave. Grannis doesnt plan to attend.

Apple closed at $90.25 yesterday on the Nasdaq Stock Market, almost ten times the price Grannis first paid for the shares. He said Apple remains a good investment because of the Mac and the culture of creativity Jobs created.

Evangelist

Grannis isnt alone in calling for more transparency. Apple needs to disclose who will take over for Jobs if he cant return to work, said Michael Yoshikami, chief investment strategist of YCMNet Advisors in Walnut Creek, California. Yoshikami said he wont buy Apple stock for the $800 million fund he helps manage in part because the company hasnt said enough about Jobss health.

“It doesnt give me a lot of comfort that the guy who was the evangelist might not be around and that the company isnt telling me who the next evangelist will be,” said Yoshikami, adding that the recessions effect on the technology industry is also keeping him away from the stock.

Jobs, who turned 54 yesterday, told shareholders last year that the board could choose his replacement from Apples management. Apple has had a confidential succession plan for several years, the company said last month. Steve Dowling, an Apple spokesman, declined to comment.

Buy at $7.50

A year later, Apple slid to about $7.50 as personal- computer demand fell after the Internet bubble burst. With the stock trading close to Apples cash reserves, Grannis said he thought the market was predicting the company would disappear.

“Thats crazy, I thought,” said Grannis, who at the time considered Apples new operating system superior to Microsoft Corp.s Windows. “Something that good cant disappear.”

He knew he could be wrong, and calculated how much he could afford to lose if Apple were wiped out. Then he halved that amount and bought more stock. He declined to say how many shares he owns today.

Unbeknown to Grannis and other investors, about a year later Jobs was diagnosed with a form of pancreatic cancer, according to a 2008 article in Fortune magazine. Apple decided not to tell investors about it after consulting with lawyers, the magazine said, citing people familiar with the matter.

Cancer Surgery

On Aug. 1, 2004, Jobs, then 49, disclosed that he had a successful surgery to remove the tumor. The stock fell 7.9 percent that week, before recovering those losses later that month.

Over the next two years, the stock soared fivefold as Apple forged a partnership with Intel Corp. and introduced new versions of the iPod. As Grannis watched the stock climb to $80, he said he kicked himself for not buying more shares in 2002.

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