I loathe Apple - they're an absolutely horrible company - but I'm not sure I buy the Apple-is-going-down story just yet: the numbers for the last quarter didn't meet market expectations (read: greedy b*stards hopes and guesses) and profits were flat, but they actually sold more i-devices in the quarter than they sold in the equivalent FOUR quarters of the previous year.
You can't really call that failure. You also can't expect that kind of growth to continue forever - one economist calculated that if Apple continued to grow revenues at the same pace it has in the last 5 years, in a couple of years time it would be worth more than the entire Australian economy.
On the other hand, all of Apple's markets are now saturated or very near saturation, so they do need to come up with something new to maintain any kind of growth. Not sure I see Apple TV as the answer .. particularly given TVs have been a saturated market for 30 years.