Who Needs iPhones? Apple Banks On iPad Growth

Apple Inc. (NASDAQ: AAPL)'s 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 U.S. market has been saturated, some are concerned about whether 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.

Related Link: New Report Reaffirms What Apple's Next Growth Engine Could Be

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 demand.

Business Partnerships

Apple has also made a push into the corporate world with its iPads through a partnership with International Business Machines Corp. (NYSE: IBM). 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.

Image Credit: Public Domain