Tim Cook’s 15-year tenure as Apple chief executive has transformed the company from a $350 billion business into a technology giant valued at more than $4.5 trillion.
Cook will hand over the CEO role to Apple hardware chief John Ternus as the company prepares to navigate the rapidly developing era of artificial intelligence.
Cook will become Apple’s executive chairman on September 1. He is expected to focus on strategy and Apple’s relationships with policymakers, particularly as tensions between the United States and China continue to affect the company.
Building Apple Beyond Steve Jobs
When Cook succeeded Steve Jobs, he did not attempt to imitate Apple’s legendary co-founder and product visionary.
Instead, Cook followed Jobs’ advice: “Never ask what I would do, just do the right thing.”
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While Jobs built his reputation around product design and innovation, Cook brought a different strength to Apple: operations and supply-chain management.
His approach helped Apple scale its products globally while maintaining an enormous and increasingly efficient manufacturing network.
Turning the iPhone Into a Recurring Business
One of Cook’s most significant achievements was expanding Apple’s business beyond hardware sales.
He recognised that the company could continue generating revenue from customers long after they purchased an iPhone.
Apple’s enormous installed base helped drive growth in services and other recurring revenue streams, which have expanded faster than the company’s hardware business in recent years.
Apple’s annual revenue increased from $108 billion when Cook became CEO to $416 billion in its latest fiscal year.
The company’s annual profit also increased more than fourfold to $112 billion.
Apple’s wearables business, including products such as the Apple Watch and AirPods, generated $35 billion in sales during fiscal 2025.
Financial adviser Christopher Brown of Synovus Securities said Cook had created an operational and supply-chain model while also building a values-driven culture.
He said that combination helped create strong consumer loyalty and generated trillions of dollars in revenue.
Questions Over Apple’s Innovation
Cook’s tenure has also faced criticism.
Some critics argue that Apple has struggled to maintain the innovation edge associated with the Jobs era.
The company has faced repeated questions about what will replace the iPhone as its central consumer technology product.
Apple also abandoned its decade-long electric vehicle project in 2024, just as Chinese manufacturers were rapidly expanding in the EV market.
The company faced another setback with the launch of Apple Maps in 2012. The troubled rollout contributed to the departure of Scott Forstall, a close Jobs associate and Apple’s former software chief.
Vision Pro and the AI Challenge
Apple’s $3,499 Vision Pro headset, launched in 2023, also failed to generate the strong sales the company had hoped for.
More recently, Apple has faced criticism over its progress in artificial intelligence, including delays in its plans to significantly upgrade Siri.
Analysts now view AI as one of the biggest challenges awaiting Ternus.
“AI is the single biggest challenge for Ternus,” said Brian Mulberry, chief market strategist at Zacks Investment Management.
He argued that Apple needs to demonstrate that AI can become more than an iPhone feature or an enhanced version of Siri.
Reducing Dependence on China
Apple’s manufacturing strategy will also remain a major challenge for the incoming leadership.
China has played a crucial role in Apple’s manufacturing success for decades. However, rising tensions between Washington and Beijing, tariffs and supply-chain disruptions have exposed the risks of relying heavily on one country.
Apple has responded by expanding production in India and other countries.
The company plans to manufacture most iPhones destined for the US market in India by the end of 2026. It has also expanded assembly of products such as AirPods and iPads in Vietnam.
These changes have helped Apple manage the impact of tariffs and reduce some of its dependence on Chinese manufacturing.
A Different Kind of CEO Legacy
Cook also reshaped Apple’s leadership structure during his tenure, building a broader executive team and strengthening the company as an institution.
Bill Birmingham, managing director at REX Financial, said the structure gave Cook greater freedom to focus on strategy and resource allocation while maintaining a relatively low public profile.
Cook’s approach differed sharply from Jobs’ highly visible leadership style.
His legacy instead rests on operational discipline, global expansion, recurring revenue and an ability to turn Apple into a more institutionally structured company.
Now, with Ternus preparing to lead Apple into the AI era, the company faces a new test: whether the operational model Cook built can produce the next generation of transformative technology.
