Just to clarify this is a piece of pure guesswork which I sincerely hope isn't true. I've read the reports today on the Apple Q2 results and to start with congratulations Apple on a fantastic quarter. During the call however reference was made to a "Future product transition" that was going to have a detremental effect on Q3 results. Now this could be anything from an iTablet to what I beleve is most likely, an iPhone with the built in keypad. Actually I'm going on the record as saying that that's what I think it is but I want to consider one other possibility.
Reading some of the other reports that have been going around recently regarding the health of Steve Jobs and the way Apple dodged the question in the press conference by stating that his health is a private matter, I have to wonder if the product transition is Jobs himself. I really hope he is in full health and I hope he will remain at the helm of Apple for many years but he was worryingly thin at WWDC and while Apple put that down to him recovering from a bug there has been speculation that it's something worse and perhaps his cancer has reappeared. I can't say enough times that I hope it hasn't but if it has and if Steve needs to take time off to recover then the transition will certainly have a negative impact on Apple's Q3 results and what more important "product" does Apple have than Steve?