Shoutout to the community-minded Jason Snell and Serenity Caldwell for capturing the transcript of the earnings call, as they do. Thank you both.

On the call, one particular question that is getting a lot of discussion:

Steve Milunovich, UBS: Some investors are antsy that Apple’s not acquired new profit pools or introduced a financially-material new product in recent years. The question is: A, does Apple today have a grand strategy for what you want to do? I know you won’t tell us what it is, but do you know what you want to do over the next three to maybe five years? Or is it more a “read the market and quickly react”? And B, do you have any sense of — we’re kind of in a gap period where the technology and, arguably, what we’d call the next job to be done, haven’t yet aligned, and maybe in a couple years we will see this flurry of new products and it’ll sort of match what people want to do, but it’s not quite here yet.

And Tim’s response:

We have the strongest pipeline that we’ve ever had and we’re really confident about the things in it, but as usual, we’re not going to talk about what’s in it.

Steve’s followup:

But in terms of your approach, I guess, to new products? Do you have a strong sense of where the technology’s going and where you’re going to play, or is it still enough up in the air that you’re willing to react fairly quickly, which, arguably, your organization allows you to do for the size of the company you are?

Tim:

We have a strong sense of where things go, and we’re very agile to shift as we need to.

Everyone, including Apple’s competitors, wants to know what Apple has up its sleeve. On one level, there’s doubt being expressed as to whether Apple has anything significant up their sleeves at all (as always, Apple is doomed). And on another level, there’s curiosity as to the specifics of what’s coming.

Why ask? Either way, Tim is not going to tell you. And in my opinion, it’s foolish to read anything into Tim’s answer. I believe that Apple has much more in the works than a car and TV content, more than anyone outside the company has seen. I believe that Apple, behind the scenes, is rapidly skating to where the puck is going to be, not reacting to existing market conditions.

Thanks again to iMore, Serenity, and Jason for pulling together this transcript. It makes excellent reading.