Is Apple eyeing up the bike business?

I saw the following link to patents supposedly submitted by Apple in a Tweet from Gerard Vroomen of Cervelo (@gerardvroomen). It shows a potential Garmin style product data recording and sharing. I'm sure the cycling GPS market could do with some competition, Garmin seem to have it all to themselves at the moment. I have no idea if it's all likely. Even if the patent application is real, that by no means guarantees Apple are actually working on a product – it could be just that they thought the idea was interesting enough to patent just in case? Who knows, but it's interesting anyway.