Tim Cook steps down as Apple CEO after 15 years, names a successor

Key Points:

• Apple CEO Tim Cook is stepping down after 15 years, during which Apple became the first U.S. public company to reach a $1 trillion market cap and expanded into new product and service categories; he will remain as executive chairman.
• John Ternus, Apple's senior vice president of hardware engineering, will succeed Cook as CEO, with his leadership debut set for the September 9 event unveiling the newest iPhone and potentially a foldable iPhone.
• Under Cook's tenure, Apple launched key products including the Apple Watch, Apple Pay, Apple Music, AirPods, Apple TV+, and Apple Card, significantly broadening its consumer tech ecosystem and services.
• Apple achieved major market capitalization milestones under Cook, reaching $1 trillion in 2018, $2 trillion in 2020, $3 trillion in 2022, and $4 trillion in 2025, frequently competing for the title of the most valuable U.S. publicly traded company.
• Analysts anticipate Apple’s upcoming foldable iPhone launch will position the company to compete directly with Samsung in the emerging foldable smartphone market segment.