Since Apple’s announcement about the company no longer exhibiting at Macwold expo multiple analysts have weighed in their opinions.

The announcement caused Apple’s shares to drop almost 7% to $88.95 a share at midday on Wednesday trading.

Yair Reiner of Opeenheimer & Co. was the most drastic of all the analysts lowering Apple’s stock from “buy” to “neutral” while a the same time withdrawing his 12-18 month price target replacing it with “N/A”.

“Six months have passed since Jobs appeared at the Apple Developers Conferences looking drawn and unwell, Reiner wrote. “It’s past time for Apple to either disclose the state of his health or elaborate a viable plan for eventually transferring power. Until such time, we can no longer continue to recommend Apple as a long-term investment.”

Reiner goes onto to try and give reason to why Jobs would not present at the upcoming Macworld after 10 years of consistent appearances:

“Maybe he’s not feeling well, or maybe he just has nothing to say. Whatever the reason, the unexpected announcement has underscored the greatest risk to Apple’s long-term success — its dependence on Jobs’ health and its apparent lack of a succession plan.”

Analyst Gene Munster for Piper Jaffray has also released a note to clients based on the subject of Jobs’ absense for this years Macworld Expo.

In the note Munster wrote that, “Steve Jobs remains CEO of Apple, however, yielding this year’s Macworld keynote to Phil Schiller, along with the participation of Tim Cook and Phil Schiller at the October event is, in our view, a clear message that a leadership shift is underway,”

Regarding Steve Jobs’ health Munster believes that Apple could have lowered speculation over the CEO’s health by having him at the keynote but doesn’t think that a lacking appearance is any sign of serious health deterioration, but “we do believe that it is a sign that we are in the early stages of changing roles in Apple’s management structure.” Further acknowledging that Steve Jobs is an “irreplaceable face of Apple.”

Munster goes onto acknowledge others within the company who he says is run by a dedicated executive team “who share a collective track record of consistently outpacing their competitors in terms of hardware and software innovation coupled with robust product marketing and financial discipline.”

“We believe that Apple’s executive team is one of its competitive advantages,” Munster added. “This management team, along with Steve Jobs, has been responsible for Apple’s product innovation.”

With Schiller presenting the Keynote at Macworld Munster believes that Apple will not reveal any revolutionary products but there is still the possibility of updated iMac and Mac mini computers.

The analyst finishes off by writing, “We continue to expect a new form factor iPhone in the March quarter,” adding “We initially thought there was an outside chance that a new iPhone could be announced at Macworld, the news regarding the keynote leads us to believe that a new iPhone at Macworld is less likely.”