00:00Big breaking news out of Apple. Tim Cook is stepping down as CEO after 15 years in the role.
00:07He joined Apple in 1998, but he's not leaving. He joins the board as executive chair. Taking over
00:14as CEO is John Ternus, Apple's longtime head of hardware engineering. This is a big deal
00:19because Ternus is not a finance or an operations guy. He's a hardware and engineering guy. He's a
00:25product builder. He's behind the iPhone, the Mac and iPad, and has been for years. So what does
00:30this mean? Apple is signaling a shift. Under Cook, it became an incredible operations, massive growth,
00:38massive growth in services story. Under Ternus, we're really expecting a renewed focus on products,
00:44chips, and on-device AI. This is the biggest leadership transition at Apple since 2011,
00:50when Tim Cook took over from Steve Jobs. But this time it's calm, it's planned,
00:55and it's communicated ahead of the company's earnings next week. Bottom line, Apple isn't
00:59changing direction overnight. Tim Cook's still going to be involved in strategy supply chain,
01:04and the company says he's going to lead talks with governments around the world. But this
01:08is Apple gearing up for its next era.
Comments