Tim Cook’s Departure Marks a New Era at Apple
Tim Cook, CEO of Apple Inc. (NASDAQ: AAPL) since August 24, 2011, announced his departure on September 1, 2023, after an impressive tenure that saw the company’s stock soar by over 2,240% and its market capitalization grow from $349 billion to $4.6 trillion. He is succeeded by John Ternus, previously Senior Vice President of Hardware Engineering since 2021.
As Ternus steps into leadership amid September—historically the weakest month for the stock market—investors are advised to remain calm. The S&P 500 has averaged a -1.3% return in September over the past decade, but long-term investors are encouraged to focus on their portfolios’ potential over time rather than short-term fluctuations.
In fiscal Q3 2026, Apple reported a 22% year-over-year increase in iPhone sales, indicating robust demand ahead of the anticipated September event showcasing new products, including a potential foldable iPhone.
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