Tuesday's announcement by Apple that it sold more devices but with less profit during the June quarter seems to have reset investor expectations about the tech giant. The key to Apple introducing new products going forward now appears to be the ability to sustain Wall Street confidence that CEO Tim Cook can continue steering the ship effectively without the hand of late co-founder Steve Jobs.
Although overall quarterly revenue of $35.4 billion topped the consensus of $35 billion, profit fell 22 percent to $6.9 billion. As a result, Cook tried to reassure investors, announcing Apple was "laser-focused and working hard on some amazing new products" set for the fall and 2014...