File this one under the dubious category, but rumors are flying that Apple Chief Operating Officer Tim Cook is leaving Apple for HP.

Silicon Alley Insider (http://www.businessinsider.com/rumor-apple-coo-tim-cook-leaving-for-hp-2...) notes that the rumor seems to have emanated from Fly On The Wall, a site that serves up gossip to the investing community. HP is looking for a new CEO, but I don't think it will be Cook. I think he's happily ingrained at Apple is on the short list to (eventually) succeed Steve Jobs as CEO. Nevertheless, Apple's stock has dipped 20% on the rumors of Cook's departure -- which shows how valuable he is considered to be to the company.

When Cook first came to Apple, he had the title of senior vice-president of worldwide operations. Eleven years later, as COO (a title he was given in 2005), Cook is an indispensable member of Apple’s corporate bench.

As Apple COO, Cook is responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also heads Apple’s Macintosh division and plays a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Before joining Apple, Cook was vice president of Corporate Materials for Compaq and was responsible for procuring and managing all of Compaq’s product inventory. Previous to his work at Compaq, Cook was the chief operating officer of the Reseller Division at Intelligent Electronics.

Cook also spent 12 years with IBM, most recently as director of North American Fulfillment where he led manufacturing and distribution functions for IBM’s Personal Computer Company in North and Latin America.

Cook earned an M.B.A. from Duke University, where he was a Fuqua Scholar, and a Bachelor of Science degree in Industrial Engineering from Auburn University.