Apple CEO Tim Cook Departs After Transforming Company into $4.6 Trillion Giant
Apple's former CEO Tim Cook handed over the reins to John Ternus after a tenure that saw the company become one of the most valuable in the world. Under Cook, Apple's value grew by $1 billion a day for 15 years.
Cook took over from Steve Jobs in 2011 and inherited a company with a market capitalization of less than $US350 billion ($489 billion). He turned Apple into a diverse business that sells watches, AirPods, and financial services, among other products.
The shares soared 2,258 per cent under Cook's leadership, making it one of Wall Street's safest bets. The stock accounts for 7 per cent of the S&P 500, up from less than 3.3 per cent in 2011.
Cook oversaw a steady rise in revenue, with sales going from $US157 billion in Apple's fiscal 2012 to $US416 billion in the most recent period. The company generated more than $US109 billion from Apple Services in fiscal 2025, accounting for over a quarter of its total sales.
Cook did oversee successful product launches like AirPods and the Apple Watch, but others, like the Vision Pro headset and self-driving cars, fell flat, feeding into criticism that Apple lost its innovative edge.
Under Ternus, the company's risk appetite could change, with Bank of America analyst Wamsi Mohan predicting higher investment in R&D, Capex, and M&A. While Cook has many fans, Wall Street is less effusive about the company, with 34 analysts out of 58 having buy ratings.