Apple Inc. (AAPL): Tim Cook is No Steve Jobs, But Why Is That Bad?

While opinions vary on how Cook has done in managing Apple Inc. (NASDAQ:AAPL) from the top of the hill after Steve Jobs got it there, there are plenty of things to consider:

* First, the aforementioned stock price – up 12 percent from 18 months ago, and that is including this current 40-percent skid since the fall.

* The company’s first dividend in a long time, and now talks of increasing it.

* A record cash pile, that was just shy of $140 billion at last report. If it grew more this quarter, might we see Apple look to swallow up one or two competitors whole?

* Last quarter, despite the stock falling, Apple Inc. (NASDAQ:AAPL) posted a record revenue number for the company and one of the largest single-quarter revenue figures in the history of U.S. publicly traded companies.

* iPad Mini, and now talks of an iWatch and an iTV coming.

* And a cheaper iPhone is reportedly coming down the pipe to get Apple more embedded into emerging markets like China, India and Brazil – which have growing middle classes but are not quite to the income level to afford the premium-price iPhones and instead have been going to the cheaper Google Inc. (NASDAQ:GOOG) Android smartphones.

We’re not so sure Cook is at fault for Apple Inc. (NASDAQ:AAPL) suffering. We believe it’s just simply the way tech is now versus what is was even two or three years ago; competition has gotten fierce, and Apple has had to adjust from its previous business model to accommodate the competition.

Apple is still the king of the hill, and everyone else is trying to knock it off. Cook has not been perfect, but he has done a decent job of keeping Apple at the forefront, while holding Apple’s place as the standard by which all other tech giants are measured. Perhaps Apple may not need a visionary CEO, as long as it has a vision.

DISCLOSURE: I own no positions in any stock mentioned.