I haven’t bought an Apple product for years because they haven’t released anything new or innovative.
Once again you think Tim Cook is doing well simply because your shares have gone up in value. By any measure product innovation at Apple has dried up under Tim Cook as he seeks to cash cow the existing products.
Revenue and Innovation are not the same things.
I think Apple is being extremely disciplined when it comes to what product categories to enter and what to stay out of.
I addressed your point about Apple treating the iPhone like a cash cow. I agree, and feel that it makes complete sense. The smartphone is not going anywhere, so why not build up a formidable ecosystem that makes people want to enter and stay inside it? Continue to monetise this user base while working on wearables as the next big thing.
What other company has a comparable wearables platform? None, because (1) they don't have an affluent smartphone user base and (2) they lack the design-led product culture that something as intimate and personal as wearables require.
Other companies are trying to come up with the next thing to leapfrog or bypass the smartphone, and they are not succeeding.
Here's my Apple product purchase history, for the purposes of discussion.
2011 - bought iPhone 4s, 27" iMac
2012 - bought iPad 3, 11" MBA
2013 - iPad mini 2, iPhone 5s
2015 - Apple TV gained peer-to-peer airplay mirroring, iPhone 6s+
2016 - upgraded to 9.7" iPad Pro with Apple Pencil, Apple TV, Apple Watch, AirPods
2017 - bought 5k iMac, iPhone 8+, 4k Apple TV
2018 - 11" iPad Pro with smart keyboard and apple pencil, AirPods Gen2
2019 - S5 Apple Watch
2020 - M1 MBA (base model)
2021 - projected to upgrade my Apple TV, get the iPhone 13, maybe airtags?
So while my pace of purchasing Apple hardware has slowed, Apple continues to add value via software updates and new services.
What keeps me using Apple products is how well they all work together. I am still using my iPhone 8+, which thanks to Apple's long support timeframe means it is still going strong on iOS 14 and I still get all the functionality. I continue to teach with my iPad Pro in the classroom, which is mirrored to the whiteboard via my Apple TV (I still have 3 3rd gen tvs which are in various classrooms). Of all my Apple products, I probably get the most mileage out of my iPad. I like being able to airdrop files between my Apple devices. I can stream music and pay for stuff from my Apple Watch. AirPods continue to be the most portable and comfortable pair of earbuds I have ever used. When the time comes for me to upgrade my 8+ later this year, I will be able to unlock it with my watch as well, if mask wearing is still a thing.
This to me is meaningful innovation that I can get behind, and because I hang on to my apple products for 3-4 years on average, they more than pay for themselves in the form of greater productivity and fewer problems overall.