Apple has introduced a lot of new stuff in the last two years: Macs, iPhones, iPads, iPods, Siri, Maps, iTunes, management changes, and a new dividend. Like Facebook, all these things have been geared towards generating a lot of profits and Apple has been very good at that aim.
But still the critics carp on the lack of Apple innovation.
Apple has made it routine to come out with a knock your socks off product every three years. Some companies only do that once a decade. Most are lucky if they can have one product like that in their whole lives.
So Apple gets held to an incredibly high standard that they themselves set. All other tech companies get a pass on innovation, as long as they've done one thing really well fairly recently.
This will continue until they show the world they can bring out a knock your socks off product again without Jobs. 2013 will probably be the year for them to do that.
But it's good to be reminded that Apple just doesn't bide its time between those three year product cycles. They are churning stuff out all the time to make their existing product portfolio that much more profitable and up to date.
We will keep holding Apple to an incredibly high standard but let's give them until the end of 2013 before we say they are losing a step.
At the time of publication the author was long in Apple.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.