Apple stock has had a colossal run with Tim Cook at the helm.
The Apple CEO is stepping down, set to be replaced by the company’s hardware chief, John Ternus. Cook will assume the position of executive chairman.
Shares dipped slightly on the news, with the stock down about 1% after hours.
Looking back at the last 15 years of Cook’s tenure, it’s understandable that investors might be nervous about who will take over as the iPhone maker’s top exec.
The stock is up 1,946% since Cook took the reins in 2011. Shares closed Monday’s session at $273.05.
Cook is stepping back from the top leadership role at a time when investors have become concerned that the company has lagged other mega-cap tech giants in the AI arms race. The stock has soared under Cook, but the gains have been muted so far in 2026. The stock is up less than 1% year to date.
“Cook leaves a lasting legacy in Cupertino and there will be a lot of pressure on Ternus to produce success out of the gates especially on the AI front,” wrote Wedbush Securities analyst Dan Ives following the news that Cook would step down. “While there were rumors of Cook leaving as CEO, investors will for now have more questions than answers around the timing and what this means for the broader Apple strategy.”
