SAN FRANCISCO – Tim Cook, who succeeded Steve Jobs 15 years ago, is passing Apple’s CEO reins to hardware expert John Ternus while staying on as executive chairman, capping a tenure that skyrocketed the company’s market value by $3.66 trillion and redefined tech dominance.
Apple’s capitalization exploded from under $350 billion in August 2011 to $4.01 trillion today, rivaling Britain’s economy, despite smartphone plateaus, COVID disruptions, supply issues, and U.S.-China tensions. Fiscal 2025 net income hit $112 billion, a 699% surge from 2010 levels, fueled by ecosystem expansion into iPads, Apple Watches, and accessories, without new “i” branding.
The firm now boasts 2.5 billion active devices, with the billionth iPhone sold in 2016. Recent holidays set records in revenue, iPhone sales, and services, even as projects like the Apple car flopped and Vision Pro stayed niche. Analyst Ross Gerber praised Cook’s turnaround amid early doubts.
Retail boomed with 540 stores worldwide, including 50 in China, outpacing U.S. tech rivals barred there. iPhone average selling prices climbed from $712 in 2011 to $1,070 in 2025 per IDC, helping weather chip shortages better than budget-focused competitors.
Cook drove sustainability, slashing 15,000 metric tons of plastic packaging,equivalent to 500 million bottles and launching the low-carbon MacBook Neo with 60% recycled materials, eyeing 2030 carbon neutrality. Apple Park, his 175-acre campus with solar power and green spaces, symbolizes the era, housing 12,000 staff amid 166,000 global employees.
A landmark $600 billion U.S. investment pledge in 2025, creating 20,000 jobs and dodging iPhone tariffs under Trump, cements his legacy. Ternus inherits a juggernaut needing balance between U.S. commitments and markets like China.