No, I don't mean to imply that. I was trying to say that they have a current relative trajectory (flat on iPhone/iPod, solidly up, but slower than anticipated after Q1 launch on iPad) -- and this trajectory doesn't seem to change any more upward after this. In particular relative to Android.

To put it another way, if they didn't do this release at all and just continued to sell iPhones with iOS 4.x on it for the next 12 months, I don't think we'd see a difference in their sales numbers.

I think this is a testament to the current quality of their devices and OS. But it does feel like we've entered Mac circa 1991. It's getting long in the tooth and the improvements are really small, while a competitor with a late start is showing signs of accelerating.