Reality distortion fields take a while to collapse
To be more specific, Cook didn't make any real decisions in the first few months after Jobs died because the forward planning was already there, he just needed to carry it out.
That's why so many new CEOs start with a massive restructuring - it's to stamp their predecessor into the mud and get people to think any success is purely down to them and not the predecessor. And any failure must be their predecessor's fault, of course!
Now that most of Jobs' plans have already been done or deemed irrelevant in the current market, Cook is on his own.
Apple have a huge cash pile but not really much else - rather like Microsoft under Ballmer. That much cash goes a long way, down the drain or otherwise.
They're also very behind on technology and are fighting several ridiculous legal battles.