I have heard this statement about Apple (AAPL) for three-plus years. Maybe you’ve heard it too.

Apple isn’t innovative anymore.

I have heard all the bear arguments on Apple: That Apple doesn’t have an answer to ChatGPT or Claude’s answer engine. That Apple’s Siri is a massive failure in AI. That the iPhone is simply a boring utility. That there’s no autonomous electric Apple car driving. That OpenAI (OPAI.PVT) is testing new hardware designed by former Apple superhero Jony Ive.

But it’s all rubbish that needs to be buried in the trash, at least for right now.

What Apple uncorked this week is a massive suite of innovation. So much so that you can’t help but view the stock as a great buy at these valuation levels.

New Apple CEO John Ternus debuted the tech giant’s first foldable iPhone this week, as we all know.

Dubbed the iPhone Duo, the device features a passport-like design that opens and closes like a book. It sports a 5.4-inch front display that expands to a massive 7.6-inch display when opened, ideal for watching movies, playing games, working, and multitasking.

The iPhone Duo will start at $1,999, in line with speculation ahead of Apple’s annual event. The higher-spec Duo will cost north of $3,100.

Objectively, look at this phone and tell me it’s not innovative. Tell me Android devices don’t look like pure trash next to the Duo.

“Overall, key product feature announcements (debut of a foldable form factor model, Touch ID to open on the iPhone Duo, new A20-series chips, and rear-camera systems) were largely as expected, and should drive continued strength in device demand,” Goldman Sachs analyst Michael Ng said.

Meanwhile, did you see that the new AirPods sport 50% more noise cancellation? Or the regular iPhone 18 Pro with supercharged battery life? How about the new Apple Watch that can summarize ambient conversations? (Creepy, yes, but innovative.)

I am not some wild-eyed tech blogger foaming at the mouth for every Apple product-reveal day. Just a consumer with an investing background who recognizes common sense when he sees it.

“Will iOS users view it differently, or will there be some unique take that Apple comes up with that changes that penetration dynamic a little bit?” AT&T CEO John Stankey told me at the Goldman Sachs Communacopia & Tech conference this week. “I suppose it’s possible, but my guess right now is we’re going to kind of see it contained to a portion of the user base that wants that larger device and is maybe willing to invest more money to pick it up and get it.”