I think this was the smartest way possible to phase out Steve Jobs without it impacting the AAPL stock too much. Last time he took a leave of absence, he announced that he'd be back in six months -- this time, he didn't mention a date at all. That seems like a clear sign to me.

I predict that Jobs won't come back to work but he will continue to offer advice and perhaps aide in negotiations with operators, media companies and the like. Then, after about a year or so, people having realized that the company does fine without Jobs, it'd be safe for Jobs to relinquish his position as CEO to Tim Cook. Jobs can then simply stay on as advisor.