NEWS ANALYSIS
company’s results and assume that it’s
running out of room to grow. But that
would be wrong, as Cook and Maestri
repeatedly pointed out. (This is catnip
to the investment world, which prizes
growth over all else.)
“I still think that we’re in the early
stages of [wearables],” Cook said. “If
you look at our share in some of the
other products... you find that the
share numbers leave a fair amount of
headroom for market-share expansion.
And this is particularly the case in some
of the emerging markets, where we’re
proud of how we’ve done, but there’s a
lot more headroom in those markets.”
He provided India as a specific
example. Last quarter, Apple doubled
its business in India versus the year-
ago quarter. “But our absolute level of
business there is still quite low relative
to the size of the opportunity,” he said.
“And you can take that and go around
the world and find other markets that
are like that as well.” He wouldn’t name
those markets, but did admit that there
are several other regions where Apple’s
market share is “lower than we’d like”.
Cook also cited growth in
enterprise markets, which has been
a “multi-year effort” that has “gained
quite a bit of traction”.
There’s one market where Apple’s
market share is quite low and there’splenty of room to grow, thanks to the
transition to Apple silicon. “The M
chip gives us a new growth trajectory
that we haven’t had in the past,” Cook
explained. “Of course, our share on the
Mac is quite low for the total personal
computer market. And so there’s lots
of headroom there.”
Growing a business that’s already
as hot as Apple’s? That will be what
you might call a tough compare. But
Apple’s shown few signs of backing
away from the challenge of besting
its own records.