New Apple CEO Tim Cook Introduces New iPhone

Apple released its third quarter earnings report today posting $7.7 billion in profit, up from $6.9 billion over the same period last year. It made $37.4 billion in revenue, just missing Wall Street’s projected figure of $37.93 billion, and its stock, which was up 0.83 percent in the trading today, reflects that holding steady in after-hours trading, down a nominal 0.5 percent.

One notable observation is that, at only 13.3 million units, Apple hasn’t sold so few iPads in a quarter since Q2 2012 when it sold 11.7 million. Meanwhile, Android tablets continue to eat into Apple’s market share. According to Gartner, in 2012 Android tablets represented 45.4 percent of the total market. That figure rose to 61.9 percent in 2013, and crept up to 65.4 percent in the first quarter of 2014, says research firm Strategy Analytics.

With more tablets on the market, and Apple having been the earliest entrant in the field, it makes sense for its market share to dwindle. So how worried should Apple be about slumping sales?

Looking at the last eleven quarters, this chart shows the iPad in fact had its finest quarter yet as recently as Q1 of 2014:

Meanwhile, on the year at least, iPhone sales are higher than ever, and with the iPhone 6 presumed to be on its way, these numbers show no sign of slowing down:

And finally, (because why not) here are the Mac computer numbers which just keep chugging along despite the explosion in mobile and the dramatic slowdown in sales elsewhere in the PC market:

So while the iPad had a rough quarter, it still had a huge holiday season. And with Macs holding steady, and iPhone sales continuing to grow, who says you need to keep innovating to stay relevant?