Sorry, Apple Investors, It's Not the Same Stock

NEW YORK ( TheStreet) -- The new iPhones are out, there's no new groundbreaking product, and a deal with China Mobile Limited ( CHL) is not yet official -- although Apple ( AAPL) has obtained a license to sell on its 3G and 4G networks.

Before going on, I must admit that I am not in the "anxiously-awaiting-the-supposed-iWatch" camp. An iWatch could do wonders for the health and fitness crowd, but beyond that, I just don't see it contributing all that much.

New revenue is new revenue, to a point, but it's not likely the product that will significantly move the needle. Hell, as a shareholder, I hope I'm wrong. But either way, this company needs time and patience, something that Wall Street doesn't concede very easily.

CEO Tim Cook never had a chance when it came to public scrutiny. While former CEO Steve Jobs was flawless in executing the transition in leadership, the product cycle didn't favor Cook -- as if filling Jobs' shoes wasn't hard enough. Now investors are growing more impatient without a new, revolutionary product.

Instead, we've seen only evolutionary. But Apple isn't known for introducing new product after new product. Rather, it has a new, game-changing product spaced out over several years. Apple has the iPod, iPhone and iPad. Those didn't all come within a three- to five-year time span, and so why should we expect something else to?

I'd rather have a great product that took its time finding its way into the marketplace than something that was hurried in. Cook happened to come in at a time where no new products were on the verge of introduction.

While Cook isn't the charismatic showman that Jobs was and is known for his efficient product channeling and warehousing more than for his innovation, that doesn't mean he's the wrong guy for the job. You need both kinds of people at a tech company.

Without innovation, the company is doomed to fail. Look at what happened to BlackBerry ( BBRY), as management never thought the phone market would change from a keyboard and scroll ball.

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