Ternus Faces High Hopes as He Takes Over from Apple's Long-Serving Cook

Apple's new CEO John Ternus is stepping into some big shoes, following in the footsteps of Tim Cook who led the company to a 2,275% gain since taking over from Steve Jobs in 2011.

Cook oversaw the growth of Apple's market capitalization from under $350 billion to $4.6 trillion and turned its stock into one of the most reliable bets on Wall Street.

Ternus will face an early test at a critical event next week, where he is expected to unveil a foldable version of the iPhone, along with other product updates.

Cook's legacy will be that he was a steady hand on the wheel over not just a long period of time, but a period of time that featured huge changes in the technology landscape, according to Allen Bond, managing director and portfolio manager at Jensen Investment Management.