As Obi-one said, it's depend on the point of view, or on the starting point. IF price have been underperformed to EPS prior to that, this current one overperformance is not irrational then, but just catch up aka return to the mean
Disclaimer: I do not own AAPL directly* (I do own S&P500)
From innovation point of view, my personal opinion they lack it last few years, as well as disaster in SW quality (few latest iOS MAJOR releases been done with BLOCKERS like device bricked on update. This could not be justified by tie to business cycle, however clearly caused by that). Jobs was kinda innovator and THIS actually lift the Apple from dust. Cook is do a supply chain man, and he probably good in extracting extra profit from ALREADY made progress. But with such approach he eventually will run into the problem that it will be no more to cash out.