Today Apple CEO Steve Jobs sent an email to all Apple employees letting them know that he would be taking a medical leave of absence until the end of June.  There are many implications to an announcement like this, however in this post I want to discuss the most immediate--what Apple shareholders should do.

My first reaction, as many probably had, was "#@$!, how fast can I sell?".  Yet that was my emotional side talking, not my rational side.  After my emotions subsided, my pragmatic side was able to prevail.  Here's why you absolutely should not sell your Apple stock now.

Jobs joking about his health at Apple's "Let's Rock" event in San Francisco on September 9, 2008

1.  Vision:  Steve Jobs is the CEO.  A CEO sets the companies' vision, the long-term alternate reality the company hopes to achieve through implementation of an actionable plan.  Steve Jobs is temporarily leaving for 6 months.  Thus, his vision for this 6 months has already been set, and can be implemented without him.

2.  Unchanged Roadmap:  Jobs said "I plan to remain involved in major strategic decisions while I am out".  Translation?  He will continue to set the vision for Apple even while he not at the office.  The roadmap Apple is on will not change because of Jobs absense.

3.  Culture:  A CEO creates the culture that characterizes a company.  Jobs created a culture at Apple that is known for being ruthlessly efficient.  Personally, knowing friends who have worked at Apple, employees work hard, are pushed hard, and achieve great results.  Culture's don't dissolve in 6 months time.  Cultures perpetuate for generations, and Apple is no exception.

Will Apple stock be down big in the morning?  Of course.  However, Apple will still be the same company tomorrow as it was today, creating products that everyone will want to buy.  And at the end of the day, isn't that what it's all about?

Full Disclosure: I am an Apple shareholder, and feel the pain of many of you reading this.