Apple CEO Tim Cook's 15-year tenure launched the Apple Watch, Apple Pay, AirPods and Apple TV+ before handing the reins to John Ternus.
Apple treated Tim Cook to a farewell tour as he wrapped up his 15-year tenure as CEO on Monday and passed the reins to successor John Ternus – who faces challenges ranging from a troubled AI rollout to a worldwide memory crunch.
Tim Cook is departing from his long-held role as Apple's CEO — and a wave of top executives are heading for the exits as he does.
Tim Cook's run as Apple's CEO ends today as one of among the most profitable in corporate history, and he leaves with the company's stock near the record high it set this summer.
Apple shares AAPL fell 1.8% on Monday as John Ternus prepares to take over as chief executive, succeeding Tim Cook after more than a decade at the helm. Ternus will assume control of a company valued at nearly $5 trillion, making sustaining Apple's growth from its current scale one of his biggest challenges.
On his last day as Apple CEO, Tim Cook offered a rousing endorsement of his successor: John Ternus, the company's senior vice president of hardware engineering. In a memo to employees, Cook reminded staff that he's “not leaving Apple,” just stepping away from the role of CEO, while declaring that “few people understand what it takes to build products that change the world the way John does.
John Ternus becomes CEO of Apple on Tuesday (Sept. 1), taking over a company whose defining strength has always been tight control of its own technology stack, hardware, software and the chips connecting them, but whose current artificial intelligence strategy runs largely on outside partners.
Apple has run nearly 38% in a year, printed a ninth straight earnings beat, and authorized a massive buyback, yet something in the numbers is making analysts pause before calling it a buy.
One of the country's most valuable companies is getting a new CEO this week.
According to International Data Corporation, Apple (NASDAQ: AAPL | AAPL Price Prediction) sold 3.1 billion iPhones under Tim Cook's leadership. The FT says Apple's market cap went from about 3% of the S&P 500 to 6% today.
Tim Cook turned Apple into a $4.
AI infrastructure is expanding beyond the giant GPU clusters that have defined the boom.