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Apple Inc dismal earnings announcement shows why it badly needs to rethink its innovation model and leadership.

Its last breakthrough innovation was the iPhone — which was released in 2007. Since then, Apple AAPL, -0.80%   has simply been tweaking its componentry, adding faster processors and more advanced sensors, and playing with its size — making it bigger in the iPad and smaller in the Apple Watch.

Chief Executive Tim Cook is probably one of the most competent operations executives in the industry but is clearly not a technology visionary. Apple needs another Steve Jobs to reinvent itself; otherwise it will join the ranks of HP and Compaq.
 



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