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The Economic Times
Tim Cook hands Apple to Ternus: bigger and richer, but catching up in AI race
Tim Cook is transitioning out of his role as Apple's CEO to become executive chairman, while John Ternus takes the reins amid rising competition, especially in AI development. Cook's leadership witnessed a significant rise in Apple's value, growing from $350 billion to over $4.5 trillion. However, there are concerns about Apple's innovation and dependency on Chinese manufacturing, compelling Ternus to address these challenges as AI becomes central to the company's strategy.
MonitorConfidence: MediumShort term horizonGeopolitical risk: High
Published 1 Sept 2026, 14:30 UTC3 min read
Visit original article ↗Lead image — The Economic Times
Summary
TL;DR
- Tim Cook's tenure saw Apple's market capitalization rise to $4.5 trillion.
- John Ternus will focus on steering Apple in the AI era.
- Critics point to innovation stagnation under Cook's leadership.
- Apple is expanding manufacturing outside China to mitigate risks.
- Cook is becoming executive chairman to guide policy relations.
Interesting facts
- Cook transformed Apple into a recurring revenue model for iPhone users.
- Concerns about AI development could impact Apple's competitiveness.
- The transition occurs amidst growing tension between the US and China.