Apple CEO Tim Cook Resigns

Cook, who succeeded Steve Jobs in 2011, oversaw Apple's growth into a $4 trillion powerhouse and the expansion of its services and wearable divisions.

Ternus, a 25-year company veteran, is regarded as a hands-on leader who will now be tasked with navigating the company's critical pivot toward artificial intelligence.

While Cook will remain as executive chairman, the transition raises questions about Apple's future product roadmap and its diplomatic ties with Washington and Beijing.

Investors have reacted with cautious optimism, noting that Ternus's hardware expertise aligns with Apple's core identity.