Jobs had little to say to excite shareholders. His announcement that the company had sold four million iPhones to date seems light compared to some analysts' estimates.
Jobs also said the company would cut the price of the Apple TV product. Cutting the price, and presumably the margin, on a product no one wants will not add any money to the revenue line.
Perhaps the biggest mistake Jobs made was to launch the MacBook Air into the teeth of a recession. It may be nice to own the world's thinnest notebook, but who has $1,800? All the people who can't pay their mortgages?
Douglas A. McIntyre is an editor at 247wallst.com.