What happened: On Monday, Apple (AAPL) announced that CEO Tim Cook will step down on Sept. 1, after 12 years at the helm, with John Ternus, the current senior vice president of hardware engineering, taking over. Cook will remain as executive chairman. The news comes ahead of Apple's Q2 earnings, expected on April 30.

Market impact: Apple's stock initially dipped 0.5% in after-hours trading, but the reaction has been muted since. Investors appear unfazed by the change, with Wedbush maintaining its 'outperform' rating. However, Main Street sentiment is less positive, with some concerns about Ternus' lack of public profile.

What to watch next: Apple's Q2 earnings on April 30 will provide the first insight into the new CEO's vision. Additionally, the market will closely monitor any shifts in Apple's strategic direction under Ternus, with a focus on potential new product announcements or changes in existing product lines.

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Last UpdatedApr 20, 2026

Tim Cook steps down as Apple CEO

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