The Economic Times

Tim Cook hands Apple to Ternus: bigger and richer, but catching up in AI race

Tim Cook will step down as Apple CEO on September 1 after 15 years, handing over the role to hardware chief John Ternus, while becoming executive chairman. Under Cook, Apples annual revenue rose from $108 billion to $416 billion and profit grew more than fourfold to $112 billion, helped by services, wearables and a massive iPhone user base.