Apple CEO Tim Cook Steps Down as John Ternus Takes Over

Tim Cook is stepping down as CEO of Apple Inc. at the end of August. The announcement followed his final earnings call of the week, which triggered a decline in the company's stock price of nearly 10%. Despite the drop, Apple maintains a market capitalization of $4.4 trillion.

Cook's tenure focused on hardware integration and the licensing of external AI software instead of creating proprietary frontier AI models. This strategic direction included the launch of an AI-enhanced version of Siri.

John Ternus will succeed Cook as the new CEO of Apple Inc.