Tim Cook Steps Down as Apple CEO After Leading $4 Trillion Growth

Tim Cook officially stepped down as Apple’s CEO today, handing the role to John Ternus, previously senior vice president of hardware engineering. Cook will remain with the company as executive chair, continuing to support Apple in areas such as global policy engagement.

Massive Growth Under Cook’s Leadership

During his tenure, Apple’s market capitalization grew from $350 billion to more than $4 trillion, marking a roughly 1,000% increase. Annual revenue quadrupled from $108 billion in 2011 to $416 billion in 2025, with iPhone revenue alone climbing from $47.1 billion to $209.6 billion over the same period. Apple’s stock price rose more than 2,000% since Cook took over, significantly outperforming the broader stock market.

Key Products and Strategic Shifts

Cook oversaw the launch of major products including the Apple Watch, AirPods, and the recently introduced MacBook Neo, while also growing Apple’s Services division into a business generating over $100 billion annually. He also led the shift away from Intel processors toward Apple’s own custom chips, improving performance and battery life across Mac computers.

New Leadership Faces AI Challenges

John Ternus takes over at a pivotal moment, as Apple works to catch up in artificial intelligence following strong competition from other major technology companies. An upgraded version of Siri, built using external AI technology, is expected to debut soon. Apple is also preparing to launch new hardware, including a foldable iPhone and smart glasses, as the company looks to compete in emerging AI-driven product categories.