The future for the iPad remains bright, according to CEO Tim Cook. "Over the long arc of time", the iPad will remain a popular device that is important to Apple. Though, Apple does not think it is likely a big change in iPad sales will come in the next few quarters, or anytime soon for that matter.

Apple's latest financial reports have shown sales are down for the iPad, but Cook says that does not mean getting rid of the product line would be a good idea. Instead, the iPad is "great business".

A stretched out upgrade cycle for the iPad is part of the reason why sales are down, and upwards of 50% of iPad buyers are first-time buyers. That stat is different from the iPhone which is upgraded more often and more of its buyers have previously owned an iPhone.