During Apple's conference call chief operating officer Tim Cook, who is standing in for Steve Jobs during his 6 month absence for health reasons, made some interesting comments.

Cook dashed hopes of an Apple netbook after being asked about the possibility of entering the sub-$500 market.

Cook said that Apple is "watching that space", but stated netbooks offer "hardware that's much less powerful than what customers want", with "cramped keyboards" and "small displays".

Cook summed up his options on "the netbook space" by saying: "We think the products there are inferior".

In addition, when questioned about the much rumoured iPhone nano - a cheaper, cut-down version of the Apple mobile - Cook said that the company is not interested in the low-end market.