00:00we we knew that turnus was the heir apparent um we just didn't know how quickly it was going to
00:05happen but look um tim cook has turned 60 65 he has had a great run in many respects at
00:14apple yes
00:15we've talked a lot about the the fact that they are not as far along in the use um of
00:22ai as they
00:23would like to be as they should be frankly given who they are um that said he is the person
00:30he took
00:30the baton um from steve jobs he was uh remains operationally supply chain wise a genius in terms
00:39of making sure that apple has the components that it needs at the exact moment that it needs them
00:47um he is the one who has been really the for many years behind the scenes before coming to the
00:54uh to
00:55the forefront um of of really enabling apple to be as successful as it has been um if you don't
01:05have
01:05the supply chain down um it's really hard to create those those devices with the margins that they that
01:12they have and as timely a manner as they as they are you know it's been a rough few years
01:18for apple
01:19in some respects with regard to you know we've talked about their car efforts that went nowhere
01:24we talked about their tv efforts and ai so there have been these moments over the last several years
01:30of like well where's that next killer product going to come from um he has he has led them into
01:37lots of new and really interesting areas in terms of media in terms of um in terms of airpods um
01:45there
01:45is a lot of really interesting new stuff going on there but not the stuff that really grabs everybody's
01:51head but the headlines but tom all that to say there's no indication that that this was something
01:56that the board pushed for at this point this was you know on on tim cook's own accord at this
02:02point
02:02there's no indication yeah there's no indication of anything along those lines i mean this is something
02:06that is being seen as orderly um there's a little bit of a tick down stock last i checked in
02:14in late
02:15trading but i mean anybody who's been following apple anybody who's been reading archive would know
02:20this was coming they would know that turnus was the person um who has the confidence of tim cook
02:26and the confidence of the board you know he spent half his life at apple he he was uh he
02:32worked on
02:33computer monitors product design for the ipad took over development of the mac um he's and he's the
02:41head of engineering hardware engineering since 2021 um expansion in the product lineup um
02:48functional improvement on products things like battery life performance connectivity those sound
02:53really nerdy but they're hugely important to consumers um and users of apple's products um and
03:01you've seen him start to um take on a bigger and more public role at apple in recent months definitely
03:08there were signs that this was in the offing yeah i mean yeah go ahead no no no please go
03:14well i was
03:15just going to make the point that too you know tim tim cook is leaving at a at a an
03:22actually pretty
03:23good time when you look at the stock price over multiple years um you know it's it's down off the
03:30high it reached in december but it's it's it's hovering pretty close to that um so this is someone who
03:37has had the confidence of the investor community as a general rule over you know of a very long tenure
03:44at apple but to this point you know turnus has really stepped up uh as mark reported in his story
03:51about the heir apparent or possible heir apparent where he named turnus you know he talked about when
03:56apple held that event in new york uh earlier in march to announce the macbook neo it was turnus not
04:03cook who did the big reveal right and he was on gma good morning america so he definitely has been
04:08taking a step forward here tom yeah exactly and they've been expanding his portfolio as well
04:14um last year got control of that secretive unit developing robots um uh it's that's actually
04:24slated for uh release as early as next year um he's taking a bigger role in product marketing as we've
04:31talked about um even to the point of editing copy for the website is one of the anecdotes that mark
04:37uh got into his story so his his profile has been rising his portfolio has been broadening
04:44um and and now he's you know he's going to be the guy starting in a few months
04:49uh carol i just want to say i'm doing a little bit of back of the envelope terminal math here
04:53going back
04:54to january of 2011 it looks like a pretty nice chart it is i mean if you're yeah if you're
04:59a shareholder
04:59of apple since then you're pretty happy shares of apple up more than 2200 percent just since then
05:05the s&p 500 up 465 percent so on an annual basis uh the uh apple since tim cook took
05:13over as ceo
05:14was announced as interim ceo was is up 24.4 percent and annualized okay versus the s&p 500 14
05:22percent
05:23well on that and we're showing that right now uh for those who are watching on youtube and bloomberg
05:27originals tom you know the thing is in the press release as as tim and i have gone through it
05:32it
05:33did say that tim cook will become executive chairman of apple's board of directors he's going to assist
05:37with certain aspects of the company including engaging with policymakers around the world and
05:42i think about that share price and move up the apple supply chain is renowned and as you said tim
05:48cook is the guy who knows this but he's added he's had to negotiate with some tricky leaders whether
05:53it's over in china where they have such a big footprint and then as they've been pivoting
05:58to india and elsewhere but then also dealing with a very complicated and sometimes difficult white house
06:07and administration where you don't want to be on the wrong side of the president and his team and tim
06:12cook has done this i think many would say flawlessly really really well so having him in that position
06:18is an important one you need somebody who can play a very diplomatic role on a global stage and who
06:26better than than tim cook the guy who's been there for so long and has has really been playing that
06:32role
06:33as you said you know he it's there's a delicate delicate dance between silicon valley and the white
06:40house um tim cook has you know demonstrated that he has the ear of the president um and
06:48knows how to speak in a language that appeals to donald trump he gave him the what was the
06:56golden iphone is that what it was a golden iphone you know at a at a at a at an
07:02event at the white
07:03house i mean you know i i think that every every big every big tech ceo has had to learn
07:11how to um
07:13it was a glass sculpture with a 24 karat gold base because i think the glass was the glass was
07:19it an
07:19iphone what was it that they maybe use in in their products apple shape the point the point being that
07:27you know it's whether it's flattery whatever it is that you know it you need to you need to know
07:32how
07:32to speak the language kiss the ring whatever metaphor you want to use um as you said he's also
07:37there's a very delicate um balance that he's had to strike with regard to china and india um as we
07:43saw
07:43first during the pandemic and then as the the trade war really um burst onto the scene in the last
07:51several years um the we've learned the um risks of over dependence on one particular area of the world
07:59for your supply chain um so tim cook has had to navigate and you know depend more on india move
08:07more manufacturing more production there um and at the same time not go so swiftly so quickly um and
08:16recklessly that you alienate china which remains a big important market now there's also a great deal
08:22of competition and competition has been really rising in china for the iphone over the last several
08:28years and you've seen this whole bunch of new um uh manufacturers there oppo vivo huawei all becoming
08:38increasingly important competitors there but at the same time iphone's still popular and in in many
08:46aspects and many parts of the country um and and so you you don't want to do something that's going
08:52to alienate the chinese um at the same time you have to diversify your supply chain and that's something
08:58that tim cook has been doing um and you know it's it's it's it's it's a juggling act and he'll
09:04get he'll he'll be able to continue to do that in his new role as executive chairman
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