Key Points
- Tim Cook stepped down as CEO after 15 years; John Ternus began his role on September 1, 2026.
- Under Cook's leadership, Apple's revenue quadrupled, profits quadrupled, and market value reached $4 trillion.
- Services, wearables, and Apple Silicon were strategic transformations.
- The car project was canceled, and a Gemini partnership with Google was established in AI.
By the Numbers
Apple's CEO of 15 years, Tim Cook, handed over his duties to John Ternus on September 1, 2026, and became the company's executive chairman. Cook, who took over from Steve Jobs in 2011, led the company during the iPhone and iPad growth era with operational excellence. This planned transition aims to preserve Apple's stability.
During Cook's tenure, Apple's annual revenue rose from $108 billion in 2011 to $416.2 billion in 2025, while net income increased from $26 billion to $112 billion. The company's market value also surged from approximately $350 billion to $4 trillion. The Services division generated $109.2 billion in revenue in 2025, approaching the total revenue of 2011.
Strategic moves included the Apple Watch in 2015, AirPods in 2016, and the transition to Apple Silicon processors in Macs starting in 2020. However, the long-running car project was canceled in 2024, and a partnership with Google's Gemini models was initiated in artificial intelligence.
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Frequently Asked Questions
- Why did Tim Cook step down as CEO?
- As a result of a planned succession process, he handed over his duties to John Ternus after 15 years and remained as executive chairman.
- How was Apple's financial performance during the Cook era?
- Revenue increased from $108 billion to $416 billion, and net income rose from $26 billion to $112 billion.
- Which major project was canceled during the Cook era?
- The car project, which lasted about ten years, was halted in 2024.
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