Key Points
Tim Cook officially became the CEO of Apple (NASDAQ: AAPL) on August 24, 2011, leading the company from a market cap of approximately $350 billion to around $4.75 trillion by the start of September 2023. His tenure saw significant growth in revenue from $108 billion in 2011 to $467 billion over the last four quarters, and net income rose from $26 billion to $129 billion.
As John Ternus steps in as the new CEO, he inherits a company with high expectations amidst the “law of large numbers.” With record-sized share repurchases contributing to a 44% decline in share count since Cook took over, Ternus will need to pursue innovative product lines and strong operational management to sustain growth in a company poised for its next phase amid elevated earnings multiples.
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