That's completely mistaken, as Apple innovates in silicon, which is invisible in itself but drives things like incredible battery life, smooth scrolling, etc.

I meant innovating to create new product lines and compelling reasons for buyers to upgrade. I didn't mean technical innovation, rather the marketing genius that enabled Steve Jobs to launch exciting new products that people would stand in line all night to buy the day they became available.

Airpods? Apple Watch?

relatively small markets, more gadgets than core products like the iphone

This has been said every year since I was born.

And the company went bankrupt (if it wasn't bailed out by MS).