I am surprised that AP can run a story and CNN can carry it. The article is short and for the sake of completeness, I am enclosing the text in full:

“NEW YORK (Associated Press) – Bank of America downgraded software company Red Hat Inc. on Thursday to ‘Neutral’ from ‘Buy’ on the lack of success of its JBoss application server.

An application server is a software device that delivers word processors, media players and other applications to computers, typically using the Internet.

Bank of America Securities analyst Kirk Materne said in a note to investors that JBoss continues to have trouble gaining momentum and he saw little change on the horizon.

He said he does expect a solid third quarter for Red Hat based on strong sales in its core business. Red Hat is one of the world’s largest suppliers of Linux, the chief competitor to Microsoft’s Windows operating system. Other Red Hat product lines include software development and database management applications.

Red Hat shares fell 25 cents to $19.08 in afternoon trading.”

The bold is added by me. A simple Wikipedia search would have given the correct (as of 2007) definition of an application server. The blind leading the blind here is, frankly, disappointing. Sigh.