We know that at the most recent Apple launch the company did not announce a new Netbook product, and we know that Apple has been looking at the low-cost notebook space for some time however.

Now Steve Jobs has commented that while Apple is not going to participate in the low-cost notebook market space at this time, Apple does have “some pretty interesting ideas” about this product category if it does evolve.

“Evolve” seems to be key word here, as we have seen reports from several sources that Apple has been testing some sort of product that has been leaving traces in Web logs. While it is easy to fake this, many are suggesting to us that it is a NetMac device that they are testing.

We still think that Apple is working on some sort of NetBook device; and while we believe when it is released, it will not be as cheap as the typical Netbook device that you see today, but it could offer some features and technology that you are not seeing elsewhere. We think Apple is watching this space closely and it is likely that they are developing something that would be in between an iPhone and a typical MacBook.