http://www.apple.com/pr/library/2002/jul/16results.html


“Even in this extended worldwide downturn, Apple is continuing to be profitable and continuing to innovate,” said Steve Jobs, Apple’s CEO. “We’re working hard to attract new customers with our ‘Switchers’ advertising campaign and our 31 retail stores, and we’re continuing to invest in a strong slate of new products, some of which we’ll talk more about at Macworld New York tomorrow.”

I think we are right on track here...
PC sales are down, nonetheless Apple is doing good, and not just by cutting prices to help sales (altough I for one would't mind :D ).
Apple is one of the few companies that are actually pushing the boundaries in technological innovation.