Apparently, it's a boob tube (corny, but it works). The Walmart of electronics, Circuit City, conducted a national survey of  2,400 college students for the best graduation gifts of 2008.

The largest percentage of respondents wanted electronics for graduation gifts. In second place, students craved a vacation (I, second that). Trailing in the percentages: clothing, jewelry, and sports gear (i.e. stuff that won't last as long as a MacBook with an AppleCare protection plan).

The survey concluded some other interesting findings:

The most useful gift:
79 percent chose a computer
11 percent chose a cell phone
6 percent chose a PDA

The most fun gift:
29 percent (tie between computers and video game systems)
20 percent chose digital cameras
10 percent chose MP3 players
6 chose HDTVs