Apple Profits

Is iPad mania over?

Apple's quarterly sales and profits soared on booming iPhone and Mac sales.

But tablet purchases plunged-- falling 9% from last year.

The company said most customers are buying cheaper versions like the iPad Mini.

iPads also haven't been popular in offices.

That's something Apple hopes to change with its new ibm partnership.

Meantime, everyone is waiting for the iPhone 6, assuming that's the name.

The smartphone is expected out in September, and will probably have a larger screen.

The much-rumored "iWatch" may also be on the way.

Apple was granted a patent for a smart watch on Tuesday.

The filing lists the same features as its competitors' smart watches -- such as a touchscreen, gps, and the ability to receive calls and texts through a mobile device.

The main difference is that the so-called iWatch can be used independently from a smartphone.

Music and video will be stored directly on the watch itself.

But don't put your pre-orders in yet.

This is just an initial design and there is no official announcement of a release for either the iWatch or the iPhone6.

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