San Francisco  - Forget the oil crisis, the dollar swoon or the housing bust. The biggest worry for many in the technology and investment community is the health of Apple's iconic founder and chief executive Steve Jobs.

The 53-year-old legend underwent successful surgery for pancreatic cancer about four years ago, and rumours of a relapse started swirling last month when he looked gaunt, pale and far from his usual exuberant self when introducing the new iPhone in San Francisco.

But a report in the New York Times Wednesday appeared to calm those fears, saying that "rumours of Steven P Jobs's health have been greatly exaggerated." The paper said Jobs had assured several people that he is still cancer free, though he had undergone surgery earlier this year to address a problem that was contributing to a loss of weight.

Jobs is so closely identified with the 146-billion-dollar company he founded that his wellbeing is considered of paramount importance to the future of Apple, especially since he has no obvious successor.

Analysts predict that if Jobs were to leave it could wipe between 25 per cent and 50 per cent off the company's value. To put it another way, the good health of Jobs might be worth between 35 billion dollars and 70 billion dollars to Apple's investors.

While Apple's future without Jobs remains a long-term concern, in the short term investors have little to worry about, the New York Times said. It quoted an industry executive as saying Jobs was running a high fever before his iPhone presentation and Jobs has told some Apple board members that he is facing nutritional problems that are a common side effect of his cancer surgery. The report helped send Apple stock up 2.6 per cent. (dpa)