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This is Tim: Cook at the 2013 Goldman Sachs conference

Macworld staff | Feb. 13, 2013
On cash balances

They clearly use them to a much higher degree than whatever our share might be. I'm not sure what people are doing with these other tablets. But that's what we care about. We want people to love our products, and use our products. Not just buy them. Our relationship starts there, it doesn't end there.

The other thing that's so profound about iPad is that in this short period of time, it's moving and being sold in a large way in all the key markets. So we find ourselves in virtually every Fortune 500 company, in almost every Global 500 company. We find ourselves in education, and we've put a lot of energy into that area, [into] making it easy for people to do fantastic textbooks that are incredibly engaging, and of course we find ourselves in consumers' [hands], but usually it takes a long time for products to engage all of these markets. We've kind of already done that.

But I still think we're in the initial innings of this, and so this is very exciting, it's very profound for the industry. I think it once again shows that the age-old model of everyone doing a sliver of something and hoping it comes together in a product that has a great experience--customers aren't buying it, they don't like it, they want integration. And Apple can do that better than anyone.

On cannibalization

The truth is, in different ways I've been asked this question for many years. I think the first time I got asked about cannibalization was when Apple came out with the iBook. And people were definitely worried that it would cannibalize the PowerBook. And portables went on to be three quarters or more percentage of the Macs [75 percent plus], and Macs hit an all-time record last year. If you look at when we came out with iPad, what did people worry about? They worried, "Oh my god, you're going to kill the Mac, what have you done, you're stupid!"

And so the cannibalization question raises its head a lot. The truth is, we don't really think about it that much. Because our basic belief is that if we don't cannibalize, someone else will. And in the case of iPad in particular, I would argue that the Windows PC market is huge, and there's a lot more to cannibalize than there is of Mac--or of iPad, as far as that goes, relative to iPad mini.

I think if a company ever begins to use cannibalization as their primary or even a major factor in their decision-making in what products to go into, it's the beginning of the end. Because there will always be somebody else.


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