Apple Names John Ternus New CEO as Tim Cook Steps Down

Apple announced that chief executive Tim Cook will step down, ending his leadership of the company as it prepares for its September stock forecast and upcoming product announcements, signaling a major shift at the helm of the iPhone, services and hardware empire.

John Ternus was appointed as Apple’s new chief executive, moving from his senior vice president role overseeing hardware engineering where he guided development of iPhone, Mac and Apple Watch, and is expected to steer the company’s next generation of devices and services.

Best Buy also reported a change in its top executive team, aligning its retail leadership with Apple’s transition as analysts suggest the coordinated moves could boost technology‑focused sales strategies and influence market confidence across both companies.

Investors are closely monitoring the leadership shift, with market analysts noting that the appointment of a hardware‑focused chief executive may affect Apple’s future earnings outlook and could shape the company’s strategy in emerging AI and services markets.