No new computers, but Jobs is back and all is well

Apple’s much-hyped music event yesterday was a big letdown for many of the company’s avid followers. There was no unveiling of a groundbreaking product, like a tablet computer, nor was the Beatles’ catalogue released on iTunes, as some expected might happen. But it was revealing nonetheless. Apple released some updated iPods, including price drops on some models. That could help revive sagging sales and boost the stock price, say analysts. Apple also released a new digital album format it calls iTunes LP, which matches albums with more art and video content. That too could boost sales and traffic on Apple’s music site. Perhaps most importantly, the event marked the official return of CEO Steve Jobs after an extended sick leave and liver transplant. Although the stock price doubled in his absence, analysts say it was an important symbolic appearance for investors.

Business Week

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