At the Motley fool in an article titled “Tim Cook Admits Apple’s $30 Billion Business Is Slowing” Tim cook has said the iPad business is slowing. This business provides a large percentage of revenue to Apple.
They’ve identified key reasons for this and one is that the iPad isn’t something someone is as likely to cycle as a phone. That is, a person with an iPad 2 might be very happy with the device and see little reason to switch to an iPad Air.
Another reason that goes hand in hand with the first is this market has or is becoming saturated with devices and there are few people now to sell into so upgrading provides the best potential for growth revenue.
A third reason is Android has capitalized on the Pad phenomenon and although as a company Apple singularly has this market when you consider all the companies that provide Android tablets Android controls more than 50% of the market.
Finally, Apple is slightly concerned with the Surface Pro 3 and not simply because Microsoft is positioning it as a tablet but as a portable replacement.
For these reasons the business has been sliding. Apple though is no slouch and knowing this it is likely they have a plan.