Tim Cook is set to step down as CEO of Apple after 15 years, with John Ternus, the company’s senior vice president of hardware engineering, taking over. Cook joined Apple in 1998 and became CEO in 2011, succeeding Steve Jobs. Under Cook’s leadership, Apple rose to a remarkable valuation of $4 trillion.
When Cook assumed the role, Apple was valued at about $350 billion. Over the years, the company’s market cap skyrocketed, hitting $1 trillion in 2018 and continuing to grow, reaching $4.01 trillion in 2025. In the fiscal year ending in September 2025, Apple reported a net income of $112 billion, drastically increasing despite challenges such as the COVID-19 pandemic and geopolitical tensions.
Cook was instrumental in expanding Apple’s product line, introducing the Apple Watch in 2015 and AirPods a year later, both of which transformed their respective markets. Additionally, Cook led the company towards wearable devices and introduced the Apple Vision Pro in 2024, despite mixed consumer reception.
During his tenure, Apple also significantly grew its services division, launching platforms like Apple Pay and Apple TV+. These services generated $109 billion in revenue in 2025.
Moreover, Cook oversaw Apple’s transition from Intel processors to in-house Apple Silicon chips, enhancing performance and efficiency across devices. As Apple enters an AI era, the company is set to roll out a revamped AI-powered Siri this year.
Looking ahead, Cook’s departure marks a new chapter for Apple, as Ternus prepares to steer the company into its next phase.
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