Apple's Cook: 'We're working on some really great stuff'

Apple (NASDAQ:AAPL) CEO Tim Cook reiterated what he is has been saying for months: that Apple will enter a new product category this year. The biggest and most likely bet is that Apple will get into wearable computing with some kind of smart watch, though Apple observers have also been speculating (for years) about an expanded TV offering. "There will be new categories. We're not ready to talk about it, but we're working on some really great stuff," Cook said in an interview with the Wall Street Journal. He did not give many hints beyond that but said that anyone "reasonable" would consider what Apple is working on as new categories.

Cook also said he still thinks Apple is a "growth company" with significant opportunities to expand its existing product portfolio, including the iPhone. Apple said it sold a record 51 million iPhones during its most recent quarter, which covered the critical holiday shopping season. Apple's iPhone sales figure was slightly lower than what an average of analysts expected. Apple also reported quarterly revenue of $57.6 billion and quarterly net profit of $13.1 billion. Article (sub. req.)

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