Apple CEO Cook hints at Apple TV opportunity

Apple CEO Tim Cook made several comments relating to the Apple TV during a speaking engagement at the Goldman Sachs Technology and Internet Conference, suggesting the company sees a larger market opportunity than is being taken advantage of by the current device. Referring to the company’s past strategies, Cook said that Apple typically doesn’t do hobby projects, but suggested that it created Apple TV because it believed that there was something there, and that exploring the potential of a living room product would be useful. The result has been an increasingly popular device that he recommended people should go out and buy right now. However, Cook noted that if Apple “kept on pulling the string”, it would eventually get from the small hobby business of Apple TV to a bigger market opportunity. This strongly suggests that the company is preparing to transition from its current “hobby” business to one it sees as more important—a larger opportunity than a tethered media streaming device.

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