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Apple Pushes Display Story at iPad Mini Launch

That last was thrown in almost as an after-thought, but with 802.11n WiFi moving bits at 100 mbps, it's easy to see Mac Minis moving to homes that have standardized on iMacs as the home PC and iPads in every room, all networking wirelessly so content is shared and there's plenty of room for home automation applications down the road. (A complete iHouse with a desktop, server and 4 iMacs would thus set a family of four back about $4,000.)

Tim Cook bored some of the media watching at home with his statistics, but these are where investors should be salivating.

The 100 millionth iPad was sold two weeks ago, and iPads represent 91% of tablet traffic. Customers have downloaded 35 billion apps on the Apple AppStore, where there are now 700,000 to choose from, 275,000 of them written especially for the iPad line. In just one month the new iOS6 operating system was downloaded 200 million times.

Cook was emphasizing Apple's huge lead within its niche, while Schiller was showing that the engineering revolution begun by Steve Jobs is continuing, perhaps at an even faster pace. It's not revolution, it's evolution -- but it's evolution on steroids.

Investor reaction to the announcements, on a down day for the street as a whole, was profoundly negative, with the stock dropping 2.35% by 2:30 PM on a day when the Nasdaq was down less than 1%.

The computers aren't the only things on sale. I'd call Apple a bargain here as well.

At the time of publication, the author was long AAPL, 10 big shares.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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