Apple CEO Tim Cook continues to describe the company's Apple TV product as a hobby, despite selling 4 million units this fiscal year and 1.3 million in the recent quarter. On an investor call today, Cook says that Apple will "continue to pull strings" with Apple TV to see where it takes the company, but that sales were "still at a level" that the company would continue to call it a hobby. "We're not going to keep around projects that we don't believe in," says Cook. "There's a lot of people here that are believers in Apple TV and we continue to invest in it and see where it will take us."

"We do it because we think it can lead us somewhere, so we'll see." Where the Apple TV is leading Apple to remains to be seen, but persistent rumors suggest the company is preparing its own Apple television. It's clear that, despite Apple not doing "hobbies as a general rule," this is one particular product that Apple continues to focus on.