The Key Questions to Ask About Apple

NEW YORK ( TheStreet) -- Apple ( AAPL) remains one of the most debated stocks among investors. Today let's consider some key questions about the company.

1. Can Apple Continue to Innovate?

This is one of the biggest questions surrounding the stock. The assumption that Apple won't be able to continue to has been a drag on the stock for some time. Still, I think it's too early to question whether the company has lost its creative touch.

Historically, Apple takes years -- not months -- to bring new products to market, and often it isn't the first company to bring a specific type of product to market. Before the iPod, other companies were selling MP3 players. Before the iPad, there had been attempts to market tablet computing devices. And before the iPhone, there were plenty of smartphones. The company's strategy hasn't been trying to be first. It's been trying to be best.

Wouldn't it seem unlikely for Apple's innovation to cease? I mean, management hasn't taken the stance that it's the king of tech and that nothing can improve in the way that BlackBerry ( BBRY) did when it dominated the world with its handheld devices.

As long as the company does not adopt a passive approach, its innovation will continue. Whether it's iTVs, iWatches or a product we haven't yet imagined, there will be something.

The big question will be whether the product is any good. Wall Street needs to realize Apple doesn't release a new product every few quarters or each year. It releases a new product when it's ready to do so. Apple has continued to prove it doesn't wait on anybody but itself.

To be frank, Apple is slow when it comes to new products. But that's just how it goes. Investors who want growth can look elsewhere until new products come along. But until that potential growth returns, Apple has solid cash flow, a nice dividend yield, and a rock-solid balance sheet to keep it afloat.

2. Do the iPhone 5s and 5c Even Matter?

I've heard that the new phones mean nothing, are pieces of crap and are no different than the iPhone 5. I've also heard the argument that most of the new iPhone purchases are simply upgrades by existing iPhone owners, with few purchases coming from first-time iPhone owners.

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