According to popular/controversial stock analyst, Jim Cramer, Apple will be releasing a product called 'Conversation'. It is supposed to be some sort of Instant messaging client. We know Apple is releasing AOL IM with iPhone 2.0 so perhaps this is what he is speaking of.
Update: According to the Video on CNBC (which is currently down) he was referring to iChatAV - which is a 5 year old product. TheStreet.com (which Jim Cramer cofounded) misreported his comments.