Apple CEO Tim Cook has called the drop in iPad sales a "speed bump." One of the few areas of the latest Apple financial report that was not impressive was the area on iPad sales. The company has seen a drop in iPad sales and revenue, but Cook does not view it as a major problem, especially because the market is not necessarily saturated already.

Cook says he views the drop in iPad sales as a "speed bump, not a huge issue." It is widely known that iPads are also kept by consumers for a long period of time, so there are less sales now than there were when the market had fewer existing iPad owners.

The CEO thinks a growing partnership with IBM will boost iPad sales in the future.