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It was encouraging to see. They updated products for business units that were really struggling (iPad) and ones that had really outdated products (Mac). Continuing refinement of software, but really nothing groundbreaking which was a little disappointing (particularly with Siri's deficiencies).

They entered a new category with HomePod. Probably not a big winner but just a nice add-on multi-billion dollar business. (The scale of this company makes even good products not particularly relevant).

They need to follow up with a great iPhone in the fall and the stock will rally. Without that great iPhone, the stock is going to go down, potentially significantly.

Overall, pretty encouraging, but their reliance on iPhone still dominates everything else in the story.

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