Not looking like much of a bounce to me :).
The street is infatuated with the iPod, and with good reason. I think the story over the next year is going to be the Mac, but will have some indication whether I am correct on the consumer side come October and January - and by April and July on the tower side, or whatever comes along to replace the tower.
Of course, there is always the possibility of goddess knows what on the iPod / new product side. We've all read the same speculations there.