Tim Cook (Credit: Apple)

Remember the report last month in which a financial analyst from Stern Agee cut his projections for iPad sales from 15 million to 13 million, citing pressure from Amazon.com’s Kindle Fire? Well, it might be time to redo that analysis.

Apple reported Tuesday that iPad sales increased 111 percent during the fourth quarter to 15.43 million, a mind-boggling number that helped the Cupertino, California titan post record revenue of $46 billion.

And what about that competitive pressure from Kindle Fire?

Well, as you’ll see in the remarks below from the analyst call, Apple CEO Tim Cook isn’t too concerned about that threat. In fact, he said the iPad is in a class by itself, and they see a day when shipments of tablets outpace PCs.

Here are Cook’s remarks in response to a question from an analyst at Goldman Sachs:

“We are really happy with the 15.4 million iPads that we were able to sell… This is consistent with our long-term belief that we’ve had since — before we introduced the product — that this is a huge opportunity for Apple over time. As I’ve said before, I really believe — as do many others in the company believe — that there will come a day when the tablet market, in units, is larger than the PC market. In fact, it is interesting to note that in the U.S., and it is clear from IDC’s recent data on desktop’s in the U.S., that tablets exceeded desktops last quarter….

And so I think you can already see different indicators that there is significant momentum in this space.

In terms of our competitiveness, the ecosystem for the iPad is in a class by itself. We strongly believe in optimizing applications from day one to take advantage of the larger canvas and we now have apps totaling over 170,000 available for customers, and that compares to be what appears to be only a few hundred for the competition.

And so, I think people really want to do multiple things with their tablets and therefore we don’t really see the limited function tablets and e-readers as being in the same category. There are clearly customers who will buy both and I think they will sell a fair number of units, but I don’t think people that want an iPad will settle for a limited function.

And, in terms of other tablets, last year was supposed to be the year of the tablet, and I think most people would agree that it was the year of the iPad, for the second year in a row.

So, we are just going to continue to innovate like crazy in this area, and we think we can continue to compete with anyone that is currently shipping tablets or that might enter in the future.”

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  • http://pulse.yahoo.com/_DFCKJVM33DIT3ZU7Q6B5B7CWXI David

    Apple is an “absolute” juggernaut. Apple is “literally” taking their competition (out behind the woodshed) and bashing their f_ckin brains in.

    • Scahill

      Apple sucks at innovating when they dont have competition. Trust me I worked there for years.

  • Guest

    Congratulations to Apple on resisting the threats made to it!

  • http://www.nickwhite.me/ Nick White

    What’s bigger – Apple’s earnings, or Tim Cook’s adam’s apple?

    • Tyrion Lannister

      Actually, his package. It is enormous.

      I’m talking about compensation here folks, get your minds out of the gutter!

  • Scahill

    He calls the Fire a limited tablet but I see it as a direct threat and not limited at all! I own an iPad 1 and I barely used it. Now I have a Fire and it is more than adequate and at a fraction of the cost. Remember what my grandmother used to say…when someone mentions something or someone in passing they are scared of them at some level.

    • Jordan Russet

      Jobs had an initial design and vision of the ipad over 30 years ago.  I have a Kindle as well, which I enjoy.  But it is NO iPad.  Kindle will sell a fair amount of units I’m sure, but the iPad will blow away the competition in sales. Both now and later.  Apple’s innovative products over the years had been unmatched.  Proof? How about $100 Billion in cash in the bank!

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