NEW YORK (TheStreet) --On Wednesday of this week Apple (AAPL) - Get ReportCEO Tim Cook will celebrate his fifth year as the leader of the tech titan. However, despite Cook's successful five-year run to this point, clamoring over when Apple will announce the next societal revolutionary product has increased.

Recode's Managing Editor Ed Lee joined CNBC's "Squawk Box" Monday morning to comment on Cook's legacy and to project the future of Apple.

"Apple needed a Tim Cook with operational excellence because Steve Jobs was all over the place, making last-minute changes to all kinds of things," Lee said.

Lee cited the infamous situation in which Steve Jobs wanted to change the iPhone screen to glass from plastic just six-weeks before the product's launch. The original prototype of the phone had been plastic. However, Jobs, frustrated with the amount of scratches the screen had, wanted an overhaul. Cook stepped in and ensured the problem was sorted out in a timely and efficient manner.

Despite his calm, cool and collected demeanor in handling crisis situations brought about by the company's founder, Lee says Cook lacks something Steve Jobs embodied that propelled Apple into becoming an icon.

"Now what they're lacking is they don't have a vision guy. Cook is a great operator, a great executive, but we haven't seen evidence of the next game-changing product," Lee explained.

Lee concluded on what could be next for Apple regarding a substantial societal impact.

"I think the recurring business Apple needs to focus on is the service revenue and media revenue. The problem, however, is the media business is run by Eddy Cue, a smart guy, but at the same time, he does not buy into the TV business model, regarding how content is paid for," Lee noted.

Lee says that the content is viewed as too expensive for Apple and that it's not willing to pay the steep rates TV companies charge because they don't see the value. Leaving Lee to question when, or if the next great revolutionary product from Apple will be introduced.

Shares of Apple were lower during the first hour of trading during Monday morning. 

(Apple is a part of Jim Cramer's charitable trust portfolio Action Alerts PLUS. See all of Cramer's holdings with a free trial).

Separately, TheStreet Ratings rate APPLE INC as a "Buy" with a ratings score of "B." This is driven by a number of strengths, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks TheStreet Ratings covers. 

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AAPL

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