Ternus Tackles Apple's Billion-Dollar Legacy
Apple's new CEO John Ternus is facing a challenging task in following the footsteps of Tim Cook, who oversaw a remarkable 2,275% gain in the company's stock price during his tenure.
Cook took over as CEO on August 24, 2011, and transformed Apple into a diverse $4.6 trillion business that sells everything from iPhones to Mac computers, watches, and financial services.
Under Cook's leadership, Apple's market capitalization grew at a rate of roughly $32 million an hour for nearly 15 years, making it the first company to top $3 trillion in value and repeatedly attain the status of the world's largest company.
The stock has also outperformed its peers, with a total return of 2,736% over Cook's tenure, compared to 769% for the S&P 500 Index and 1,512% for the Nasdaq 100 Index.