Cupertino, California — John Ternus became Apple’s chief executive on Tuesday, closing Tim Cook’s 15-year run at the company that grew into a US$4.6 trillion (approximately $4.6 trillion) technology giant under his direction.
Cook, 65, moves into the role of executive chairman. Ternus, who led hardware engineering, now oversees a company defined by the iPhone but confronting the industry’s shift toward artificial intelligence. The handover was flagged earlier and became official this week.
Cook took over in 2011 from Steve Jobs, who unveiled the first iPhone in 2007. During Cook’s tenure Apple’s market value climbed sharply, powered by iPhone sales and a growing services business. His background in operations reshaped the company around its supply chain rather than product design.
Apple’s share performance under Cook drew wide praise, yet the gains tracked a broader rally among large U.S. technology firms. The so-called Magnificent Seven — Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla — delivered comparable or stronger returns over much of the same period, tempering claims that Apple stood alone.
The transition arrives as artificial intelligence reorders the sector. Apple has had an uneven start in the field, delaying features and revising promised upgrades to its Siri assistant. Rivals moved faster to embed generative AI across their products.
Ternus inherits those questions along with Apple’s hardware franchise. The company still relies heavily on the iPhone for revenue, and investors are watching how quickly the new leadership integrates AI into future devices and software.
Cook’s later years also carried external pressures, including U.S. tariff policy that affected Apple’s manufacturing costs and supply arrangements across Asia. The company has worked to diversify production beyond China.
Ternus becomes the third chief executive in Apple’s history to lead the company on a permanent basis, following Jobs and Cook. His engineering record includes work on recent iPhone, iPad and Mac hardware.
As of Tuesday, Ternus holds the chief executive title and Cook remains chairman of the board, keeping a role in the company he ran for a decade and a half.