The photograph on TMZ.com showed Jobs clad in a black knee-length gown, supported by an unidentified man beside a car in a sunny, unknown locale.
Photos of the Silicon Valley legend, who on Wednesday dropped a bombshell on Wall Street and Apple fans when he passed the CEO reins over to right-hand man Tim Cook, have surfaced on various tabloids this year.
The health of the pancreatic cancer survivor has been a constant source of speculation. TMZ's photo, credited to Pacific Coast News, ignited a firestorm of indignation on Twitter.
"Leave Steve alone @TMZ. You guys are low as you can go. This is what's called 'journalism' these days. Seriously disgusted," brian-tong tweeted.
TMZ declined to comment. Celebrity photo website Pacific Coast News said it had snapped the photograph and then sold it exclusively to TMZ. Apple declined to comment.