By: Aseem Gaurav on February 15, 2012
In a rare appearance before investors, Apple chief executive Tim Cook said the iPad has made Apple the most valuable company in the world and has significantly boosted its profits. Cook believes there are ''jaw-dropping'' opportunities ahead in the smartphone market.
Cook also said that the iPad tablet trajectory was "off the charts" and that the tablet market will surpass the units sales of the PC market.
As per current estimates, there are nearly 55 million iPads in the hands of consumers since the product made its debut, besides 170,000 iPad-optimised apps.
Cook, who took over from Steve Jobs last August, urged investors to be a patient about the company's cash reserves. He was speaking at the Goldman Sachs Technology Conference.
Apple, which enjoys a cult following for its pioneering devices and groundbreaking design, is undoubtedly one of the most watched companies in the world.
A recent report by analyst firm Telsyte recognizes the growing presence of tablet among consumers which it says will cannibalise a significant portions of the PC computing devices.
Coming down heavily on competitors, Cook said the market is now filled with lots of tablets and smartphones but the gap has significantly widened between the iPad and other tablets.
As per latest rumours, Apple is believed to release the iPad 3 next month on March 7.
