Apple taps hardware veteran to lead AI push

Longtime hardware chief John Ternus will replace Tim Cook as Apple’s next CEO, taking the helm as the iPhone maker navigates a technology landscape upended by AI – a field where it has lagged behind

Tim Cook, 65: Supply-chain genius who boosted Apple market value by $3.6 trillion during 15 years at helm, will stay on as executive chairman when Ternus takes over on Sep 1

John Ternus, 50: Instrumental in reviving product sales since joining Apple in 2001, will face challenge of bringing AI to iPhone, while holding off competitors like Nvidia – world’s most valuable company

APPLE’S MARKET VALUE ($ Trillions)

Aug 2011: $356bn
Cook takes over as Apple CEO from Steve Jobs 

Aug 2020: $2 trillion
Doubles value in two years

Aug 2018 $1 trillion

Apr 2026: Apple achieves market capitalisation of $4.01 trillion

Products launched

Jun 2007
iPhone

Apr 2010
iPad

Apr 2015
Watch

Dec 2016
AirPods

4
3
2
1
0
2025
2020
2015
2010
2005

Sources: Reuters, Nasdaq, Bloomberg
Pictures: Getty Images, Creative Commons
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