Tim Cook’s Legacy at Apple
Former CEO Tim Cook stepped down from Apple (NASDAQ: AAPL) on September 1, 2023, after 15 years at the helm. Under his leadership, the company initiated a share repurchase program in 2012, leading to the buyback of over $880 billion in shares by mid-2026. As a result, shareholders have nearly doubled their stakes, with each share held before buybacks now representing an 80% larger share in the company.
Since the start of the buyback program, Apple’s net income has surged from about $41 billion in 2012 to nearly $129 billion recently, with earnings per share increasing over 5.5 times. Meanwhile, Apple’s stock value has increased nearly 12-fold since fiscal 2013, supported by a trailing P/E ratio of 37.5. The board has renewed its repurchase authorization for an additional $100 billion, positioning the company for sustained earnings growth.
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