Tech investors everywhere are grappling with a simple, yet uncomfortable, truth: The global smartphone and tablet market simply aren't the growth drivers they used to be. And at no other name has that perhaps been more readily observable than at the world's largest technology company -- Apple (NASDAQ:AAPL).

As we saw in its homerun earnings report last month or in researcher IDC's Q1 tablet market share figures, Apple's overall shipments and tablet market share both contracted big time in the calendar-year first quarter.

However, it's also important to note that this tablet decline might not be the black eye that IDC's numbers might project on the surface, especially for the likes of Apple.

Apple's tablet miss
According to IDC, Apple's share of the tablet market fell to 32.5%, the first time Apple's share of this key market fell below one-third since Apple helped create the market in 2010. As we saw in its earnings, Apple's iPad shipments fell roughly 16%.

However, there were a few key mitigating factors that show that Apple's iPad slump might be as severe as it might appear on the surface. In the following video, tech and telecom specialist Andrew Tonner breaks down Apple's iPad sales figures in greater detail and shows that Apple's iPad figures aren't the letdown you might initially think.

The biggest thing to come out of Silicon Valley in years
If you thought the iPod, the iPhone, and the iPad were amazing, just wait until you see this. One hundred of Apple's top engineers are busy building one in a secret lab. And an ABI Research report predicts 485 million of them could be sold over the next decade. But you can invest in it right now, for just a fraction of the price of Apple stock. Click here to get the full story in this eye-opening new report.

Andrew Tonner owns shares of Apple. The Motley Fool recommends and owns shares of and Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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