The IT slump will do wonders for innovation, with Apple leading the way, believes Apple CEO Steve Jobs,

"I see a recovery in innovation coming out of this downturn," Jobs told Business Week. "I see some very strong companies that have been built even in these very tough times. And I see some new sprouts popping up out of universities. I'm an optimist."

He added: "Apple is one of only two companies making money in the PC business," Jobs claims, adding: "We're not making a lot, but other than Dell, we're the only one. Others are losing money – a lot of money."

Jobs also discusses Apple's focus on innovation, the need for research and development, and the necessity of being creative in a stagnant market.

Looking at Apple's music ventures, Jobs stresses that "music isn't new, it's been here for thousands of years and will remain as long as humans exist".