Apple CEO Tim Cook steps down

Apple CEO Tim Cook is stepping down from the role he inherited from Steve Jobs, transitioning to executive chairman of the board this September.

His successor, John Ternus, is a 25-year Apple veteran who previously led the company's hardware engineering division.

Ternus takes the helm as Apple faces significant pressure to accelerate its artificial intelligence strategy and find new growth drivers.

Investors have reacted with cautious optimism to the choice of a hardware expert to lead the tech giant into its next era.