How Apple has changed since Steve Jobs
Since Steve Jobs passed away two years ago Saturday, Apple has experienced no shortage of scrutiny.
Investors, the media and the public alike have targeted the company, accusing it of failing to innovate. Critics claim the company has lost its edge, merely updating existing products and not creating new product categories. CEO Tim Cook has also been criticized as lacking vision for Apple and blamed for the company's fallen stock price.
Just because Apple hasn't launched a new product category since Jobs' death doesn't mean its failing at innovation, said Trip Chowdhry, managing director at Global Equities Research.
"The reason Apple is Apple is because they do things that cannot be done. ... We expect the best from Apple," said Chowdhry, who has a price target of $725 on the stock with an overweight rating.
Product innovation
Apple has not lost its grip on innovation, but it has slowed down since Jobs death. If Jobs were still running the company, it's likely that Apple would have two new product categories by now, Chowdhry said.
"Innovation drives the value of the company, and I think Apple has to prove itself. It's not enough that they can come up with one product after 10 years or five years, but they need one every year if they want to do well," he said. "They cannot be complacent, if they become complacent they will become the next Microsoft.