Jobs is currently on his third medical leave to deal with health issues.
The Apple CEO announced in late January that "at my request, the board of directors has granted me a medical leave of absence so I can focus on my health".
Steve Jobs has been battling serious health issues over seven years.
In August 2004, Jobs underwent successful surgery to treat a rare form of pancreatic cancer, which laid him up until September of that year. He had also undergone a liver transplant in 2009.
The rumors doing the rounds are that he is once again stricken with the malignancy.
Terminal looking images
US tabloid, the National Enquirer had published shocking photos of Jobs looking shrunken, frail, and extremely thin leaving the Stanford Cancer Center, which is the same clinic where actor Patrick Swayze sought chemotherapy for pancreatic cancer in his final days.
The new photos taken on Feb. 8 show Jobs jeans and dark top hanging loosely on his 6ft 2in painfully thin frame.
According to the National Enquirer, Jobs’ weight has dropped drastically from a pre-cancer 175lb to 130lb now.
His receding hairline they believe is a sure sign of the effects of advanced chemotherapy to treat the cancer.
The gossip tabloid surmises that Jobs could die by the end of March, much before the unveiling of the next iPhone 5 which is expected in June 2011.
Analysis of photographs by two doctors
The Enquirer showed the photos to two doctors who described Jobs' condition as near-terminal. However, the two have never met Steve Jobs in person and are not oncologists.
Critical care physician Dr. Samuel Jacobson stated, "Judging from the photos, he is close to terminal. I would say he has six weeks. He is emaciated and looks to have lost a lot of muscle mass, which spells a poor prognosis."
Dr Gabe Mirkin, a physician with 40 years of experience stated, "He is terminal. What you are seeing is extreme muscle wasting from calorie deprivation, most likely caused by cancer. He has no muscle left in his buttocks, which is the last place to go.
"He definitely appears to be in the terminal stages of his life from these photos. I would be surprised if he weighed more than 130lb."