Tim Cook breaks down how they think at Apple on yesterday’s earning call, for all the ignorant analysts and investors who still don’t get it (and there are a lot of em out there):

As you probably know from following us for a long time, we didn’t ship the first MP3 player, nor the first smartphone, nor the first tablet. In fact, there were tablets being shipped a decade or so before then, but arguably we shipped the first successful modern tablet, the first successful modern smartphone, and the first successful modern MP3 player. And so it means much more to us to get it right, than to be first.
I’m looking forward to Apple’s take on what a “smart watch” is.