Apple prepares for leadership transition as Tim Cook's era concludes

Fifteen years after Steve Jobs resigned as CEO on August 24, 2011, Apple has transitioned from a product-centric innovator into a massive, scalable services and ecosystem powerhouse under Tim Cook.

Under Cook's leadership, the company has achieved record financial growth. In fiscal year 2025, Apple reported $416 billion in revenue. The company has frequently vied for the title of world's most valuable company, reaching a market capitalization of approximately $4.88 trillion in July 2026, briefly surpassing Nvidia.

While the iPhone remains a central revenue driver, Apple has successfully diversified through services such as the App Store, iCloud, and Apple Pay, alongside new hardware like the Apple Watch and AirPods. This shift has provided more resilient, recurring revenue streams.

Apple has officially announced a leadership transition: John Ternus is set to become CEO on September 1, 2026. Tim Cook will step down from the executive role but will remain with the company as Executive Chairman of the Board.