Apple will have a new chief executive in September when Tim Cook steps down after more than a decade in the role. John Ternus, currently head of hardware engineering, will take over as CEO. Cook announced the transition on Wednesday, confirming earlier reports about his departure timing.
Ternus inherits a company that remains one of the most profitable in technology, but faces challenges different from those Cook managed during his tenure. Apple’s revenue growth has slowed in recent quarters, and regulatory scrutiny over its App Store policies continues. The shift comes as the tech giant prepares for its next major product cycles, including new iPhone and Mac updates expected later this year.
Cook joined Apple in 1998 and became CEO in 2011 following the death of Steve Jobs. During his leadership, Apple’s market value grew from $340 billion to over $3 trillion. His departure marks the end of an era defined by premium hardware and services expansion. Analysts note Ternus’s deep experience in product development will be critical as Apple navigates supply chain pressures and global competition.
Separately, Elon Musk is in advanced talks to acquire Cursor, an AI startup valued at $60 billion. Sources familiar with the matter say Musk’s companies, including Tesla and xAI, could integrate Cursor’s technology into their operations. The deal, if finalized, would be one of the largest AI acquisitions this year.
Source: techcrunch.com