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Opinion
Leonid Bershidsky

Why Apple Is Afraid to Reveal Watch Numbers

The company has captured the smartwatch market, but fallen short of expectations.
Leading the smartwatch market.

Leading the smartwatch market.

Photographer: SAM YEH/AFP/Getty Images

Apple is sitting on $202.8 billion in cash. So no matter what analysts and the market think of the company's latest quarterly report (not much, judging by the steep drop in share price), the company is still a juggernaut that can absorb any imaginable shock. At the same time, it's also weak in a way it wasn't under Steve Jobs. Apple has grown afraid of its own long shadow.

Chief Executive Tim Cook has an explanation for why the company failed to report the sales of the Apple Watch -- its first new product since Jobs died in 2011 -- in its first quarter on the market: "That was not a matter of not being transparent, it was a matter of not giving our competition insight that's a product that we've worked really hard on."