It seems to me that the iPhone narrative is two-fold: 1) The iPhone has to get narrower. (Why the headphone jack has got to go in iPhone 7.) 2) It has to look elegant. (Why I’m hearing a lot of speculation the big thing is an all crystal iPhone 8 which maybe the final iPhone evolution. I’m not particularly sure about this rumour.)

Since Apple executives only care enough about its stockpile of cash and it’s stock value because it’s effectively their retirement stipend, to me Apple’s greatest concern is figuring out what will it be it’s next post-Jobs innovation or iteration improvement. Up to now, nearly everything new with Apple’s products is fulfilling out Jobs’ wish, like thinner iPhones because he did it first with the MacBook.

To this point, their post-Jobs products seems to be the Apple Watch and the Apple Pencil, two things I’m fairly sure Jobs would not have wanted. And I think their innovations will be more internal than external. For example, I think Apple is going to start producing its own chips. Apple would have to be ridiculously overconfident if they haven’t acknowledged internally that their lineup from Mac mini to Mac Pro is technologically behind what’s considered “cutting edge.” Rumours of them hiring every chip maker available maybe is a sign of that.

It’ll be very interesting to see what Apple will actually do.