You can focus on things that are barriers or you can focus on scaling the wall or redefining the problem.

Our new watches are made entirely of double super gold. They are just a piece of gold that you can wear to the left, right, or directly on top of the other gold you own.

I don't think Apple has to own a content business.

Apple Pay is forever changing the way we pay for things.

With hacking getting more and more sophisticated, the hacking community has gone from the hobbyist in the basement to huge sophisticated companies that are essentially doing this, or groups of people or foreign agents inside and outside the United States.

Gaming has kind of evolved a bit. More people play on portable devices. Where we might go in the future, we'll see. Customers love games. I'm not interested in being in the console business in what is thought of as traditional gaming. But Apple is a big player today and things in the future will only make that bigger.

Anything can change, because the smartphone revolution is still in the early stages.