Apple (NASDAQ:AAPL) is one of the most innovative companies to ever exist. That has been a blessing for shareholders, who have enjoyed a 6,000% gain over the last decade.

But what does the need to innovate mean going forward? The answer may not be a clear as you think. In this video, Fool analysts Morgan Housel and Austin Smith discuss the difference between a company that constantly needs to innovate versus those with boring products that rarely change.

Fool contributor Morgan Housel has no position in any stocks mentioned. Austin Smith owns shares of Apple and Coca-Cola. The Motley Fool recommends Apple and Coca-Cola. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.