When Tim Cook took over as CEO of Apple (AAPL -0.89%) 15 years ago, expectations were high. Founder and former CEO Steve Jobs had brought it back from the brink of bankruptcy and made it the most valuable company in the world. And of course, he designed some of the most iconic products of all time -- a tough act to follow.
John Ternus, the current head of hardware engineering, will become the company's new CEO on Sept. 1, 2026, and he'll have equally big shoes to fill. Cook was known as an operational genius before he became CEO, and Apple's stock performance suggests his skills were exactly what the company needed.
Apple CEO Tim Cook. Image source: Apple.
Apple's performance since Cook took over
Apple's share price has increased a spectacular 2,230% from Cook's first day as CEO on Aug. 24, 2011, through Aug. 7, 2026. Its total return is even better at 2,680%, as the company has returned cash to shareholders through stock buybacks. It also began paying a dividend again in 2012, which it hadn't done since 1995.
To put it another way, if you had used $10,000 to invest in Apple stock on Cook's first day, that investment would be worth $278,250 (as of Aug. 7). The same investment in the S&P 500 would be worth $86,600.
Ternus is inheriting a financial juggernaut -- with one notable challenge
Apple's sales have consistently grown under Cook's leadership. Since he took over, revenue is up 330% and gross profit is up 410%. The tech giant also recently reported its strongest June quarter ever for its fiscal third quarter of 2026, which ended on June 27. Revenue was up 16% year over year to $109 billion; Apple set quarterly sales records for iPhone, Mac, and services; and revenue increased in every geographic segment.
NASDAQ: AAPL
Key Data Points
If there's a major criticism of the Cook era, it's the lackluster results with AI. Apple Intelligence faced multiple delays, as did an AI-powered Siri upgrade, originally announced in 2024 and only recently debuting for consumer beta testing. In January, Apple entered a multiyear collaboration to use Alphabet's Google Gemini for its core foundational models, drawing criticism that its in-house AI development didn't measure up to other tech companies.
Still, Cook's run has been an undeniable success. Apple has delivered more than triple the S&P 500's return during his tenure, even though it was already one of the world's largest companies when it started. It will be difficult for Ternus to match Cook's success, although in fairness, many people said the same when Cook took over for Jobs.
