Steve Jobs Appears At Apple Event

SAN FRANCISCO -- Apple Inc Chief Executive Steve Jobs bounced back into the public spotlight for the first time in over half a year on Wednesday, triggering a standing ovation and helping the company's shares gain nearly 1%.

The 54-year-old executive, looking thin but energetic in his trademark black turtleneck and jeans, took the stage and thanked everyone in the Apple ( AAPL - news - people ) community for their "heartfelt support" during his lengthy absence.

It was Jobs' first appearance at a public event since he returned to work in June following six months of medical leave, during which the charismatic corporate showman underwent a liver transplant.

The executive started off by announcing a new version of Apple's popular online media store, iTunes, and updated software for the iPhone.

Jobs is later expected to unveil a new line of iPods with digital cameras ahead of the crucial holiday season. But few were expecting game-changing product announcements.

Analysts had expected an appearance by Jobs to give Apple's stock a boost. The shares rose in the afternoon to $174.47, their highest since August 28, 2008. But they quickly retreated to $173.65, about 0.4 percent higher.

"While he was gone, Apple innovated and the product pipeline is set for the next three years," said Canaccord Adams analyst Peter Misek. "He is clearly a genius. It's great to have him back. It's great for the industry, but I don't think he's back full-time and I don't think he's going to come back full-time.

"The big issue is we are going to see an iPod update with cameras. How do we find new uses for this device?"