Ternus Inherits Apple Empire from Cook's Legacy
Apple Inc (NASDAQ:AAPL) has a new CEO, John Ternus, who takes over from Tim Cook. Cook served as Apple's leader for 15 years, succeeding co-founder Steve Jobs in 2011.
Cook's tenure saw the company undergo significant changes and introduce numerous innovative products. He oversaw Apple's expansion into various segments, including streaming, AirPods, the Apple Watch, and the M1 chip.
Under Cook's leadership, Apple became the world's first $2 trillion and $3 trillion public company. Today, it is valued at around $4 trillion.
A $1,000 investment in Apple stock when Cook took over would have purchased 2.68 shares, trading at $373.52 per share on August 23, 2011. After two stock splits, a 7-for-1 split in June 2014 and a 4-for-1 split in August 2020, the investment would be worth $23,776.42 today, based on Apple's current share price of $316.85.
This represents a staggering return of 2,277.6% over the course of 15 years, surpassing the S&P 500 by a significant margin. A $1,000 investment in the SPDR S&P 500 ETF Trust (NYSE:SPY) would be worth $6,581.29 over the same period, indicating a return of 558.1%.