Apple Inc claims that the company will be coming up with more wearable devices, which would include a wide range of smartwatches .
"We're working on some things that are extensions of things you can see and some that you can't see," said Tim Cook, Chief Executive of Apple.
Apple's ability to again transform the fast-moving technology arena is the central question in investors' and Silicon Valley executives' minds as the company's growth slows.
Tim even shared how the executives of Apple TV business consider it as a long term hobby, whose sales chalked up to $181 billion in the fiscal year.The $99 Apple TV set-top box, which streams content from Netflix and other video sources to a TV, had racked up $1 billion in sales in the past year, he said.
Cook said that the company even plans to provide an update within 60 days on how it will use the cash, which totaled nearly $160 billion at the end of 2013. The time frame is in line with Apple's previous comments that it would announce its latest cash management plans around April.
Some analysts also believe that Apple may eventually dip into its coffers to buy something big. The iPhone maker has so far shied away from the mega-acquisitions that far more aggressive rivals like Google and Facebook Inc have pursued, though Cook did not rule out forking over a big sum of cash if warranted.
