Innovation is a risk, but as others have mentioned I can't think of anything innovative that can be done with a modern smartphone, who ever makes it. From what I read many believe their next innovation will be something I have no interest in, self drive cars.
As with their computer lines before them a product reaches a point where there is not much more they can do with it. Innovation comes from new product lines as they did when iPod, iPad and iPhone first appeared. And historically Apple are very secretive about that kind of stuff.
Tim's job is different to when Steve was in charge, he is the CEO of one of the biggest companies in the world and they are only there because he cares about the bottom line. Different times need different leaders and at the minute Tim works.
This entire line of thinking that there "isn't much left to do" is wildly, unacceptably absurd.
Tim's job is not different. He has consciously changed Apple's approach, slowly and methodically over the last 8 years. Tim wants to run a boring and predictable company...he doesn't want anything truly innovative, because he can't quantify that.
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