1) Howard Schultz, Chairman of Starbucks, talked about competition from McDonald and Dokin Donuts.
Starbucks is not an advertiser. If other companies are going to advertise and promote specialty coffee, Starbucks is going to benefit in the long term,” he said.
2) iPhone price cut and iPod touch launch: Steve Jobs announced Apple will cut 8GB iPhone from $599 to $399, discountine to offer 4GB iPhone, and offer an iPod touch, which is “an iPhone without phone capability”. In other words: iPod touch will have touch screen, music and video capability, WiFi, Internet, etc. You can check out latest iPod lineup from apple.com