2800% return in 15 years: Tim Cook leaves Apple

The CEO of the technology giant Apple, Tim Cook, is ending his tenure today (Monday), a position he held for the last 15 years. The person who will fill his place is the company's Senior Vice President of Hardware Engineering, John Ternus. Even after leaving, Cook will continue to serve as the company's Chairman.

Cook, who has held the position since August 2011, replaced the legendary founder Steve Jobs following his severe illness. When he took office, many wondered if he would succeed in continuing Jobs' legacy. But it seems that even the most optimistic did not expect such success.

Dream return

Upon his entry into the role, the company's stock was traded at a price of 8 dollars (adjusted for splits), which presents an inconceivable increase under Cook's leadership of almost 2,800% (calculating dividends). In August 2018, Apple became the first company in the world to reach a market value of 1 trillion dollars, in August 2020 it crossed the 2 trillion dollar threshold, and in January 2022 it crossed the 3 trillion dollar threshold.

Over the years, Apple was intermittently the largest company in the world, as it swapped places from time to time with Microsoft and the Saudi oil giant Saudi Aramco, but since June 2024, Nvidia has taken the lead almost completely.

Two CEOs from different worlds

The managerial and personality difference between the CEOs is expected to lead Apple to a new era. While Cook came to the position as an expert in logistics, supply chain, and operations, Ternus is a pure hardware engineer, who grew up within the development labs of the most important products. Cook recently praised Ternus publicly and said:

"John is a brilliant engineer and thinker, who is obsessed with every single detail."

No grace period

The big and immediate test for Ternus will take place in just a few days, at Apple's annual and large launch conference, which will be held on September 9. At this event, the company is expected to present the iPhone 18 Pro series, new and advanced versions of the voice assistant Siri, based on artificial intelligence, and also – for the first time in the company's history – the foldable iPhone.

Ternus will have to prove to investors and buyers around the world that he is capable of making the complex transition from the chair of the brilliant engineer to the chair of the leader of the giant company.