Apple Sees Huge Hurdle as Tim Cook Steps Down
Tim Cook's 11-year tenure as Apple's CEO has come to an end, handing over the reins to John Ternus on Tuesday.
Cook oversaw a tremendous growth in the company's market value, with shares soaring 2,275% since he took over from Steve Jobs in August 2011. This period saw Apple's market capitalisation grow from under $350 billion to a staggering $4.6 trillion, making it one of the world's largest companies.
Cook's steady hand on the wheel was praised by analysts, with Chris Brigati, chief investment officer at SWBC, saying that he 'left huge shoes to fill' but also 'did amazing things as CEO'. He credited Cook's approach to expanding the company's growth engines for its success.
Under Ternus, Apple faces an early test next week when it is expected to unveil a foldable version of the iPhone and other product updates. Brigati suggested that the ideal approach would be to blend the Jobs and Cook approaches.