Apple CEO Tim Cook steps down

Apple CEO Tim Cook is stepping down after a 15-year tenure that saw the company's market capitalization soar to $4 trillion.

John Ternus, a 25-year veteran of the company and current head of hardware engineering, is set to take the helm on September 1, 2026.

Cook will remain involved with the tech giant as executive chairman of the board, focusing on policy and long-term strategy.

Analysts suggest the appointment of a hardware specialist reflects Apple's commitment to device dominance in the emerging AI era.