One tech analyst, saying he is concerned about the strength of the executive team leading Apple, downgraded the company to “underperform” last Friday and cut his price target on the company’s shares by more than 40 percent.

Mike Abramsky, who follows the Cupertino, Calif.-based company for The Royal Bank of Canada, now has a $70 per share price target on Apple – which is 15 percent below Friday’s close of $82.83.

The downgrade comes days after Steve Jobs announced that he is taking a six-month leave of absence due to health matters.

“Jobs is widely viewed as Apple’s chief innovator, dealmaker, leader, deeply involved in minute decisions, inextricably tied to Apple’s brand,” Abramsky wrote in a report.