Cook hands Apple to Ternus: bigger and richer, but catching up in AI race

When Tim Cook became Apple's CEO in 2011, he adopted a philosophy of doing the right thing rather than emulating Steve Jobs' visionary approach. Under Cook's leadership, Apple transformed from a $350 billion company to a $4.5 trillion behemoth within a decade. As CEO, Cook prioritized supply chain excellence, turning Apple into a global manufacturing powerhouse that made its products accessible to the masses.

This strategy led to a remarkable increase in Apple's annual sales, from $108 billion at the start of Cook's tenure to $416 billion in the most recent fiscal year. Profit also surged fourfold, reaching $112 billion. Cook's vision extended beyond hardware, with the company's wearables business generating $35 billion in sales in fiscal 2025, primarily through the Apple Watch and AirPods.

Critics argue that Apple has lagged in innovation during Cook's tenure, particularly in the realm of artificial intelligence. Despite facing challenges such as the failed electric vehicle project, the botched launch of Apple Maps, and the underwhelming performance of the Vision Pro headset, Cook has steered the company through turbulent times.

As Apple prepares to transition to John Ternus, CEO of hardware, Cook will become executive chairman, focusing on navigating complex geopolitical issues, including strained relationships with China and efforts to diversify manufacturing away from the country.