Further, he pushes against the idea that Apple may have hit a wall based on the "law of large numbers" (the idea that the greater the sample size, a company's performance will return to their actual potential), quoting CEO Tim Cook's keynote address at last week's Goldman Sach's Technology Conference:
It was 37 million — more than we’d ever done before. We were pretty happy with that, but let me give you the way I look at the numbers. As I see it, that 37 million for last quarter represented 24% of the smartphone market. There’s 3 out of 4 people buying something else. 9 out of 10 phone buyers are buying something else.
Handset market is projected to go from 1.5 to 2 billion units. Take it in the context of these numbers, the truth is that this is a jaw-dropping industry with enormous opportunity. Up against those numbers, the numbers don’t seem so large anymore. What seems so large to me is the opportunity.
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