Analysis: Google has new products, but Apple still dominates

Google is going gangbusters, recently unveiling new products like a music streaming service and a revamp of its e-commerce technology "Google Wallet." Apple, the tech giant that once led the pack, suddenly finds itself accused of losing its innovative edge. Wall Street's love affair with Apple has cooled, its stock is down 40% from last year's high.

But there is no question that Apple still dominates, said The Street's Rocco Pendola.

"I've spent more money on Apple products than I have on my wife and my kid," said Pendola.

"Nobody gets excited about ... Samsung products, or even Google stuff like they do Apple. They don't line up for them, there isn't that intensity," said Pendola.

For those wondering where Apple's new gadgets are, historically, there has not been a long wait between products. But Pendola said he would rather the company take its time.

"I don't want them to rush out products like their competitors do, I don't want them to change something like the iPhone that works," said Pendola. "I love my iPhone, I don't want it to be different. Why mess with it if it isn't broken?"

Pendola said the company does need a new product within the next year, if only just to test the mettle of its new leader Tim Cook, who the business writer said was the wrong choice to fill Steve Jobs' shoes.

"He is an MBA, he is a manager, he is a fantastic businessman," said Pendola, but he's "a textbook guy."

Apple needs a visionary, said Pendola, like Twitter founder Jack Dorsey, Starbucks' Howard Schultz, Amazon's Jeff Bezos, or e-car Tesla's Elon Musk.

These visionaries are "people that know what you want before you even know it exists, people who run their companies like tech companies, not by their grad school MBA textbook," said Pendola.