Steve Jobs' Health Upstages iPod Event

Apple (AAPL Quote) shares traded lower Monday, a day before its highly anticipated "Let's Rock" media event, as concern over the health of CEO Steve Jobs took center stage.

At the event, scheduled for 1 p.m. EDT on Tuesday, Apple is widely expected to unveil a redesigned iPod nano, a new iPod touch and a software update for its popular iTunes computer program. In the last few years, Apple has used the September media events to update its wildly popular iPod players.

"We expect the company to release a redesigned iPod touch and a new iPod nano along with price cuts and capacity changes for the [iPod] shuffle and classic," writes Piper Jaffray analyst Gene Munster in a research note. "In other words, this event will likely be focused on Apple's music products, which is widely expected by the Street." ...