There have been around 1,736 (give or take) Apple netbook rumors within the last year. The latest rumor comes from Digitimes and is a little lite on details, 

Foxconn Electronics (Hon Hai Precision Industry) is in the running to land orders for a netbook from Apple, according to a Chinese-language Commercial Times report citing sources from the component supply chain.

Could be a Netbook, huge iPod touch, or something only Steve Jobs type invisionaries dream about. We’re bound to find out sooner or later though.