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Former Apple CEO John Sculley discusses the future of the technology company amid leadership changes and the rise of artificial intelligence on \u2018The Claman Countdown.\u2019<\/p>\n
Apple CEO Tim Cook says he is stepping down after 15 years as chief executive because three key factors aligned: Apple\u2019s current performance, its product roadmap and the readiness of his successor, John Ternus.<\/p>\n
Cook said the timing came down to a clear internal assessment of the company\u2019s position and future.<\/p>\n
“I looked at three things,” Cook told FOX Business. “I looked at the performance of the company in the first half, and it\u2019s been remarkable. I wanted to announce at a point in time where our roadmap was incredible, and so there would be some great things happening in the future.\u00a0<\/p>\n
“And I wanted to announce at a time that John was ready, and John is ready. And, so, all three of those things intersected, and it felt to me like the right time.”<\/p>\n
APPLE CEO TIM COOK TO STEP DOWN IN MAJOR LEADERSHIP SHAKEUP; SUCCESSOR NAMED<\/p>\n
Tim Cook, right, will become Apple’s executive chairman, and John Ternus, left, will become Apple CEO Sept. 1, 2026. (Reuters)<\/p>\n
Apple announced last week that Cook will step down as CEO on Sept. 1 and transition to executive chairman. Ternus, Apple\u2019s head of hardware engineering, will take over as the company\u2019s next chief executive.<\/p>\n
Cook is entering the final stretch of his CEO tenure with a record second quarter. Apple revenue jumped 17%, ahead of analyst estimates, while iPhone sales increased 22% from a year earlier. Cook said iPhone sales could have been even stronger if not for supply constraints that limited availability.<\/p>\n
The war in Iran is also affecting Apple\u2019s business, Cook said, creating pressure on both revenue and costs.<\/p>\n
WHO IS JOHN TERNUS, SET TO SUCCEED TIM TOOK AS APPLE\u2019S CEO?<\/p>\n
Apple employees help customers at the Fifth Avenue Apple Store on new product launch day Sept. 19, 2025, in New York City. (Michael M. Santiago\/Getty Images)<\/p>\n
“It creates both revenue pressure, as you would guess, in the region, and it creates input costs across the world,” Cook said. Oil prices have risen to their highest level in four years amid supply disruptions in the Middle East and concerns around the Strait of Hormuz.<\/p>\n
Ticker Security Last Change Change % AAPL APPLE INC. 271.35 +1.18
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LEADERSHIP CHANGE AT APPLE SPARKS INDUSTRY AND WALL STREET REACTIONS AS COOK TRANSITIONS ROLES<\/p>\n
Cook also addressed investor concerns that Apple is perceived to be behind in the artificial intelligence race, as some Silicon Valley competitors spend far more aggressively on AI infrastructure.<\/p>\n
“If you look at our year-over-year growth, we\u2019ve really ramped significantly,” Cook said, adding that Apple uses “a hybrid model” that includes “both our own data centers and other people\u2019s data centers.”<\/p>\n
Tim Cook succeeded Steve Jobs as CEO in 2011. (Alyssa Pointer\/Reuters)<\/p>\n
Microsoft, Amazon, Meta and Alphabet have collectively forecast more than $700 billion in spending this year, with much of that investment directed toward AI data centers.<\/p>\n
Asked how important AI is in his day-to-day priorities, Cook said it is “at the top of my list, because I see it as a huge opportunity for us and what we deliver to our users.”<\/p>\n
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Another issue weighing on Apple investors is the surge in memory chip prices, which have climbed roughly 500% since August. Cook said Apple\u2019s memory costs were higher in the March quarter and are reflected in the company\u2019s gross margin.<\/p>\n
And, Cook said during the tech giant’s earnings call on Thursday that the company would seek refunds for duties paid under President Donald Trump’s tariffs.<\/p>\n
“We plan to reinvest any amount we receive back into U.S. innovation and advanced manufacturing,” Cook said. “These would be new investments and would be in addition to our prior commitments in the U.S.”<\/p>\n
Apple has one more earnings report before Cook\u2019s CEO tenure ends Sept. 1. During his 15-year run as CEO, Apple returned nearly 2,000% to shareholders and increased its market value by more than 1,000%.<\/p>\n
#Tim #Cook #cites #performance #roadmap #successor #readiness #Apple #exit<\/p>\n","protected":false},"excerpt":{"rendered":"
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