Which is foolish; they have the resources to devote to both, but they don't know how to do more than 1 thing at a time. The lack of bulk iPad management tools until recently (and I don't even know how good they are now) makes them almost unusable in a lot of school situations.
tl;dr We are switching to Chromebooks next year and will be able to outfit 3 entire grade levels for almost the same price as purchasing iPads for 1 grade level. Apple has lost it's way and I'm not sure it can come back. It used to chase ideals, now it chases money.
Lack of focus has a real cost, even to large companies. It's the difference between polished slick software, and a design-by-committee mess.
Apple would very likely _love_ to have a second or third profit generator. If you examine the profits taken on iPads, MacBooks, and everything else Apple does (see http://www.asymco.com) relative to the iPhone, it is a one trick pony.
Hard to peel apart your "focus" when 85% of your business relies on it.
And I don't think they can really get by these days doing fewer things; I think they're right that an integrated ecosystem is the right answer, but part of that is, ecosystems are large. So they do need to do the more things, but they just don't seem to be doing the more things that well.
They have enough cash reserves to keep going for a long time, as well as other product lines that were successful enough to get them to where they are.