Apple Shares Slide as Tim Cook Steps Down, Nvidia Surges on $3.5 Billion Deal

Apple's stock slid 1.73% on Monday as Tim Cook stepped down as CEO after nearly two decades at the helm, handing leadership to John Ternus, Apple's senior vice president of hardware engineering.

Cook's departure marks a significant transition for one of the world's most valuable companies, which he grew from $350 billion in market value in 2011 to over $4 trillion today.

Under Cook's leadership, Apple launched several landmark products, including the Apple Watch, AirPods, and MacBook Neo, while expanding its Services segment into a business generating over $100 billion in revenue annually.

Cook will remain with Apple as executive chair and assist with policy engagement around the world.