Apple’s big news? That Steve Jobs is still with us

After weeks of speculation about whether Apple was going to unveil a new iPad - or Apple tablet - at a special event in San Francisco yesterday, Steve Jobs, the computer maker's iconic CEO, proved himself an even bigger star that the shiny toys he loves to make. Looking gaunt but sharp in his trademark black polo and blue jeans, he received a standing ovation from an audience just glad to see their guru had survived his liver transplant earlier this year.

"I'm vertical and I'm back," he joked at his first public appearnace in almost a year. He urged his audience to become organ donors, saying: "I have the liver of a mid-20s person who died in a car crash and was generous enough to donate their organs. I wouldn't be here without such generosity."

In the event, Jobs did not have an announcement to make about an iPad. Instead there was a new iPod nano with built-in camera and speaker. And there were improvements - in pricing and features - to the iPod touch and iPod classic.

Although some critics were disappointed at the lack of a high-profile product launch, the fact that Jobs is back at work full-time is considered by many to be just as important to the company's fortunes.

"Today it was all about Steve Jobs," said Gene Munster, a senior analyst with Piper Jaffray & Co. "Users and investors of Apple adore Steve Jobs and the fact that he was here is really a statement that he is in charge and he is an active part of the company. That is the most important takeaway."

Barclays Capital analyst Ben Reitzes wrote to clients: "We believe it is positive that Jobs is healthy and enthusiastic enough to lead Apple, which is an important element of the short- and long-term investment cases for Apple." ·