If Apple does have another magical technology up its sleeve, it's a very well-kept secret -- something increasingly rare in a company that used to pride itself on confidentiality.

Apple has a strong talent pool of engineers and designers, but Tim Cook's operational genius will only be able to squeeze out so many efficiencies from the current product lineup. To keep its hot streak going, Apple will have to prove it can still innovate.

That's something the investment world rarely questioned when Steve Jobs was in charge.