Shares of Apple Inc. fell less than 1% in late trading on Monday after a big leadership change was announced, as stated by Reuters. The company said its CEO Tim Cook will step down after nearly 15 years in charge. Cook, who is 65 years old, decided to leave the CEO role and move aside. He will now become executive chairman in September, staying involved but not running daily operations.
Apple has chosen John Ternus, its hardware chief, as the new CEO, according to the announcement. Ternus is 50 years old and currently leads Apple’s hardware engineering team. This sudden leadership change surprised Wall Street investors. Experts say this raises questions about whether Ternus can maintain the fast growth pace set by Cook, as noted by Reuters.
ALSO READ: US small businesses pull back on investment: Only 16% plan CapEx in March, lowest since 2009
ALSO READ: Biggest energy crisis ever: 600 million barrels lost, oil shock sends prices, inflation and markets into turmoil
Strong iPhone demand could lead to a better-than-expected June quarter outlook. Woodring said Apple stock could reach around $300 by September, above its previous record. He also gave a higher long-term target of $315 and rated the stock “Overweight”, as noted by MacDailyNews. Future growth may come from AI-powered Siri updates and a possible foldable iPhone launch. Apple also stands out because it generates strong cash flow while rivals spend heavily on AI infrastructure.
Apple stock saw a small dip mainly due to uncertainty after Cook’s exit, not because of weak business. The focus now shifts to how John Ternus leads Apple into its next phase, especially in AI and innovation.
Tim Cook stepped down after nearly 15 years to move into a new role as executive chairman and pass leadership to a new CEO.
Q2. Who is the new Apple CEO after Tim Cook?
John Ternus, Apple’s hardware chief, is the new CEO and will now lead the company.
Apple has chosen John Ternus, its hardware chief, as the new CEO, according to the announcement. Ternus is 50 years old and currently leads Apple’s hardware engineering team. This sudden leadership change surprised Wall Street investors. Experts say this raises questions about whether Ternus can maintain the fast growth pace set by Cook, as noted by Reuters.
Tim Cook’s legacy and impact
Cook’s exit marks the end of one of the most successful leadership periods in US business history. During his time, Apple’s annual profit grew 4 times to over $110 billion, The company’s total value also increased more than 10 times to about $4 trillion, as noted by The New York Times. Cook became CEO in 2011, replacing Steve Jobs shortly before Jobs passed away. He helped build Apple into a global tech giant with a huge supply chain across China, India, and Brazil. Former Apple CFO Peter Oppenheimer said Cook handled the role extremely well despite the pressure.ALSO READ: US small businesses pull back on investment: Only 16% plan CapEx in March, lowest since 2009
Apple’s new CEO John Ternus
Ternus joined Apple in 2001 and grew inside the company over many years. He played a key role in developing Mac computers and iPads. He will become Apple’s 8th CEO and only the 3rd since Steve Jobs returned in 1997. Ternus said he feels optimistic about Apple’s future and promises to continue its values and vision, as stated by The New York Times.Challenges ahead for Apple
Ternus will take charge at a time when Apple has not launched a major new product category in recent years. The company is also facing concerns about its long-term strategy, especially in artificial intelligence (AI). Apple has been slower than competitors in spending big on AI development. Several top executives have left recently, worrying investors about leadership depth. The company is dealing with political and global challenges like tariffs, antitrust issues, and tensions with China. Cook had become a key diplomat, handling relations between the US and China governments.Positive outlook and investor sentiment
Despite the leadership change, Apple remains one of the most profitable companies in the world. Strong sales from iPhones, Apple Watch, iCloud, and Apple Pay continue to support the business. According to Morgan Stanley analyst Erik Woodring, investors should not panic about short-term cost pressures, as cited by Barron’s. Rising memory costs may reduce margins, but this is already expected by the market.ALSO READ: Biggest energy crisis ever: 600 million barrels lost, oil shock sends prices, inflation and markets into turmoil
Strong iPhone demand could lead to a better-than-expected June quarter outlook. Woodring said Apple stock could reach around $300 by September, above its previous record. He also gave a higher long-term target of $315 and rated the stock “Overweight”, as noted by MacDailyNews. Future growth may come from AI-powered Siri updates and a possible foldable iPhone launch. Apple also stands out because it generates strong cash flow while rivals spend heavily on AI infrastructure.
Apple stock saw a small dip mainly due to uncertainty after Cook’s exit, not because of weak business. The focus now shifts to how John Ternus leads Apple into its next phase, especially in AI and innovation.
FAQs
Q1. Why did Tim Cook step down as Apple CEO?Tim Cook stepped down after nearly 15 years to move into a new role as executive chairman and pass leadership to a new CEO.
Q2. Who is the new Apple CEO after Tim Cook?
John Ternus, Apple’s hardware chief, is the new CEO and will now lead the company.
