Apple Inc. (NASDAQ:AAPL) releases its December quarter results tonight, and Wall Street is waiting anxiously for that report. One of the reasons some have been concerned about the company’s future is because the innovation it has been known for in the past seems to be fading, but is that really a big deal?

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Speaking on Bloomberg, John Fichthorn of Dialectic Capital Management was asked his views about Apple Inc. (NASDAQ:AAPL) and why he’s long on the company, and he suggests that it really isn’t.

Is Apple still innovative?

Within the discussion, they did mention that Apple Inc. (NASDAQ:AAPL) is expected to release a larger iPhone this year. Of course there have been bigger Android smartphones for years, so Apple is essentially playing the catch-up game. Some investors have certainly given Apple a hard time for not entering any new product categories over the last few years, at least from a financial standpoint, what matters isn’t whether Apple can innovate, but rather, how much money it can make.

Most agree that in order to remain a growth stock, Apple Inc. (NASDAQ:AAPL) must enter a new product category soon. After all, iPods are no longer a growth area, and neither is the PC market. Even the smartphone market is beginning to taper off. But what Fichthorn boils this all down to is dollars and cents.

Apple rakes in the cash

Analysts estimate that Apple Inc. (NASDAQ:AAPL) will sell about 20 million to 22 million new iPhones just to China Mobile users alone, which adds up to $4.5 billion in additional profits. So while launching a larger iPhone may not be all that innovative, there’s no denying that this company is rolling in the cash. How many companies would love to earn $4.5 billion from one client, and have that be a drop in the bucket compared to the total amount they earn from all their clients?

Fichthorn says this is why he’s long on Apple Inc. (NASDAQ:AAPL). In light of the company’s profits, he sees it as being a “reasonably priced company with decent upgrade cycles this year.” He said a bigger iPhone will be a plus because it is something a lot of people have been waiting for.

How Apple has the edge over Samsung

The battle between Apple Inc. (NASDAQ:AAPL) and Samsung for dominance in the smartphone market has been going on for years, but he notes that Apple has a clear edge over Samsung in one area. Apple has somewhat of a software business with its App Store, which means it has more than just hardware, to which Samsung is limited.