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Apple Replaces Tim Cook with 25-Year Veteran Amid Record Market Valuation

Guavy AI Editorial Team
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AAPL
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Apple's CEO Tim Cook is stepping down on September 1 and will become executive chairman. He'll be replaced by John Ternus, a 25-year veteran of Apple who currently heads hardware development.

Cook took over as CEO in 2011 after Steve Jobs' departure. During his tenure, Apple's share price skyrocketed 2,180% by August 17 this year.

Apple hit a $5 trillion market cap the same week Cook gave his final earnings call for the fiscal third quarter of 2026. However, that valuation has since fallen to $4.5 trillion due to a post-earnings sell-off.

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