Apple's New CEO Faces High Stakes With $4.6 Trillion Valuation

Apple's new CEO John Ternus has inherited a company valued at over $4.6 trillion, more than 13 times its value when Tim Cook took over in 2011.

The stock trades at around 33 times expected earnings, far above its 10-year average of about 23 times and the multiple of around 12 times Apple had when Cook assumed the CEO role.

This high valuation is a major concern for Ternus, who must balance maintaining financial discipline with investing in areas like artificial intelligence and research and development.

Under Cook's leadership, Apple expanded into a wider earnings machine, with revenue increasing from $157 billion in fiscal 2012 to $416 billion in fiscal 2025, driven by the growth of its Services segment which contributed over $109 billion.