Apple (AAPL 1.27%) 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.