00:00Cook preparing to step down following a record-setting 15-year tenure,
00:04handing the reins to hardware boss John Turnus on September 1st,
00:07with the latest Bloomberg's Ed Ludlow joins us for more.
00:10Morning, Gerd. Just walk us through the next steps here, the timeline,
00:13and how this is going to work.
00:14Yeah, I mean, through September 1st, that would be almost exactly 15 years
00:17since Tim Cook took the reins as CEO, which was August 2011.
00:21I think what's so interesting about all the coverage is people forget
00:24Tim Cook joined Apple in 1998 and was COO in 2005.
00:28So his kind of relationship with the company extends beyond that.
00:32The September 1st point is interesting because you have WWDC,
00:36which is the company's annual developers conference over the early summer.
00:40And, you know, this time around, especially as it relates to the stock story,
00:45everyone's expectation is they will finally say something about AI
00:48and how AI is going to be meaningfully useful through an iPhone handset.
00:51And then when you get to September, you have the seasonal release
00:54of the latest generations of hardware.
00:56So, you know, the backward-looking data is amazing, right, John?
01:00Profit growth of 700% in that period with Tim Cook as CEO.
01:04They finished the last fiscal year with $112 billion of net income.
01:08But the current data and forward-looking data is that top-line growth,
01:12at least, has really plateaued.
01:13And so Tim Cook is going to continue to talk with policymakers,
01:16government, focus on supply chain in an executive chairman role.
01:20But what's so detailed in Bloomberg's reporting,
01:23John Ternus is a good operator, right, politically and literally
01:26from a hardware engineering standpoint.
01:28And so he's seen as both the continuity candidate,
01:30but also someone that might be a bit more Steve Jobs in mould,
01:34have conviction to make calls,
01:36not just to proceed with the big bets and big swings,
01:38but cancel those projects which don't go as well.
01:41And so that really is the focus of what everyone's digesting this morning.
Comments