Apple is in a reported 'waiting period' as the company seeks its 'next big direction,' the company's co-founder Steve Wozniak said Thursday.

Speaking to a forum in Mexico City, Wozniak strongly believes that Apple is still a great company with its own culture -- even without Steve Jobs.

"I think Apple is in one of these waiting periods waiting for the next big direction," he said.

"You can't expect a whole new incredible revolution of a category of existing consumer electronics , you can't expect that every year," he added. "If you could have one every year it would be quite a surprise."

Perhaps wearables such as the iWatch could be the 'next big direction' -- something that excites Wozniak as well.

"I think, oh my gosh, I just wish I had the old iPhone right here on my wrist and I wish I could ask it questions like a new Siri or tell it to play certain music," Wozniak exclaimed.