Who Needs iPhones—Apple Banks On iPad Growth

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Apple Inc.
's
AAPL
fourth quarter earnings results sparked a mass exodus from the stock as investors worried about the firm's slowing iPhone sales. In the past, much of Apple's growth has been dependent on ever increasing smartphone sales, but now that much of the US market has been saturated, some are concerned about whether or not The Fruit can continue its impressive growth. In fact, CEO Tim Cook
said
he isn't worried about the sales slowdown, remarking that iPad revenue growth is expected to pick up by the end of this year.
The Decline Of The iPad
Apple's iPads have lost their luster in recent quarters as more and more people use their smartphones exclusively for mobile browsing. What was once a must-have gadget appears to have fallen by the wayside for the average consumer, leaving Apple to find new ways to breathe life into the product line.
New Products
Cook's optimistic remarks could be just that— an uplifting comment reflecting his belief that the firm will bounce back. However, some say there is a real possibility that the figures could back up his predictions. The firm's latest iPad Pro sales numbers won't be revealed until the second fiscal quarter of the year, so its effect on revenue hasn't been fully accounted for just yet. The company may also launch its iPad Air 3 in March, something that could also spur on demand.
Business Partnerships
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Apple has also made a push into the corporate world with its iPads through a partnership with
International Business MachinesIBM
. IBM has a longstanding relationship with many corporate customers and has been able to help Apple provide tailored programs for specific industries that could benefit from the use of an iPad.
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