FORTUNE — A growth company, according to Investopedia, is defined as follows:
Apple (AAPL) doesn’t quite fit that model. Its earnings have been flat or down for the past five quarters and it’s started paying dividends because it doesn’t have enough profitable reinvestment opportunities for its tens of billions of retained earnings.
But Apple CEO Tim Cook, it turns out, has his own definition. Asked by the
Wall Street Journal
‘s Daisuke Wakabayashi to respond to the perception that Apple is no longer a growth company, he says:
In other words, according to Cook, what matters is not rate of growth, but the absolute value. Hmm.