SEATTLE, Washington - Steve Jobs, the CEO who transformed Apple Inc from niche computer maker into the most-envied consumer-electronics brand today, is taking a medical leave of absence for the second time in two years.

In the last decade, Jobs, 55, has survived a rare but curable form of pancreatic cancer and undergone a liver transplant. The news that he will again step back from his day-to-day role raises serious questions about the CEO's health.

But analysts believe the company Jobs shepherded from garage startup to a $65 billion technology trendsetter is in good hands with the current slate of talented executives - even as Apple, now the Silicon Valley player to beat, faces increasing competition from Google Inc and others.