Apple's Jobs: No buybacks or dividends coming

Apple, Inc. (NASDAQ: AAPL) continues to have some of the most sought-after products in the tech world between the iPhone, its iPods and its Mac computers. Although AAPL shares have swooned down 37% in 2008 after hitting $200 earlier in the year, the good news continues for the company at a time when market volatility has hit it hard.

CEO and company co-founder Steve Jobs is sticking to his guns, saying that Apple still has no plans for releasing a dividend to shareholders nor buy back shares to pump up the stock price. In other words, there's no knee-jerk reaction from Jobs based on silly market antics that have depressed the share price of his company. Apple's annual shareholder's meeting happened yesterday at its Cupertino, Ca. headquarters, and Jobs reiterated that the company will indeed sell 10 million iPhones in 2008.

Still, the market has punished Apple's share price in the last 60 days in severe fashion. The company missed its second-quarter financial expectations, creating a market frenzy around a possible slowdown of consumer cash aimed at Apple's products. Then again, Jobs said that the iPhone would be introduced into Asia in 2008 and Apple CFO Peter Oppenheimer reiterated that Apple's investments have "not had any material losses to date on (sic) our investment portfolio."