Apple CEO Tim Cook to step down

Cook's tenure saw Apple's market capitalization grow from $350 billion to a staggering $4 trillion, transforming the company into a recurring revenue powerhouse.

He will transition to the role of executive chairman, while Ternus takes over the day-to-day leadership during a critical pivot toward artificial intelligence.

Ternus is widely regarded as a 'product guy' who can navigate Apple through a fresh set of marketing and innovation challenges.

The leadership change is being described as a 'textbook succession' that ensures continuity while preparing the company for its next era of growth.