Author｜Xie Jiabaoshu

As Apple approaches its 50th anniversary, it is preparing to bid farewell to the 'Cook era.'

According to Bloomberg, at Apple's all-employee meeting in early February 2026, CEO Tim Cook addressed the recent wave of executive departures, explaining that these changes were carefully planned and 'not a sudden development.'

Image source: Apple

'At a certain age, some people retire—it's a natural phenomenon,' Tim Cook emphasized. 'We must ensure Apple continues to move forward' and reach 'the next, next, and next level.' Cook added, 'I spend a lot of time thinking about who will be making decisions here in five or ten years. I even obsess over who will lead fifteen years from now.'

Since becoming Apple's CEO in August 2011, Tim Cook has led the tech giant for approximately fifteen years, surpassing even the tenure of Apple's 'iconic figure,' Steve Jobs. Such a stable and lengthy tenure reflects the Apple Board's high satisfaction with Cook.

Without objective constraints, the trusted Tim Cook would undoubtedly continue to lead Apple deeper into the tech landscape. However, born in 1960, Cook is now 66 years old. Even with abundant energy, maintaining the acute judgment and high-intensity work ethic required of a tech leader over the long term is challenging.

Predictably, Apple's most critical task in the coming period is to find a 'clock-builder' comparable to Tim Cook to propel it to new heights. However, in the fiercely evolving AI era, this is no easy feat.

01

Jobs Told the Time, Cook Built the Clock

Under Steve Jobs' leadership, Apple created revolutionary products like the Mac, iPhone, and iPad, leading many to believe the company would decline without him.

In reality, Steve Jobs' legacy extends beyond innovative tech products; he established Apple's unique corporate culture and selected Tim Cook as his successor.

In response, BBK founder and renowned investor Duan Yongping stated, 'Cook is a better CEO than Jobs. Cook is more rational while deeply understanding Jobs' pursuit.'

Image source: Apple

Since 2011, Tim Cook has followed in Steve Jobs' footsteps, leveraging his supply chain expertise to strengthen the interconnectivity of hardware devices like the iPhone, Apple Watch, and Mac while introducing software services such as Apple Pay, Apple Music, and Apple TV+ based on the 'ecosystem' approach.

Arguably, Tim Cook is a superior 'clock-builder' to Steve Jobs. While Apple could create great products under Jobs' genius, relying too heavily on a 'time-teller' introduced significant uncertainty for a commercial company.

Though less creative than Jobs, Cook has honed Apple's corporate culture and product lineup, enabling sustained differentiation and substantial profits. For instance, at AWE 2026, the head of Dreame AURORA phones, Liu Yang, lamented, 'Apple currently captures about 80% of the global smartphone market's profits.'

Overall, under Cook's leadership, Apple's performance has soared. Financial reports show that in FY2025, Apple's revenue reached $416.161 billion, with net income of $112.01 billion—both roughly tripling compared to FY2011.

With deep competitive moats, Apple has become a darling of the capital markets. Today, its market cap stands at $3.69 trillion, nearly nine times the ~$364.4 billion when Cook took office.

Recognizing Cook as an exceptional 'clock-builder,' Duan Yongping heavily invested in Apple stocks in 2011 and has since profited handsomely. In January 2026, Duan revealed part of his Apple holdings, showing a cumulative return rate of 1,623.48%, with gains of approximately $34.26 million.

02

Frequent Appearances at Launches: Ternus Emerges as Key Executive

While Tim Cook has not directly addressed when he will step down as CEO, various signs indicate Apple is preparing for a leadership transition.

Image source: Apple

Traditionally, Apple's major product launches and subsequent media interviews were handled by Tim Cook. However, in early March 2026, Apple held a product launch in New York to unveil the MacBook Neo, with John Ternus—not Cook—as the main speaker. Ternus also gave media interviews to promote the MacBook Neo.

Notably, at Apple's fall 2025 product launch, Ternus presented the highly anticipated ultra-thin iPhone Air.

Additionally, Ternus represented Apple in delivering speeches across Europe, outlining Apple's strategic direction in environmental protection and sustainability—a topic previously central to Tim Cook's focus.

Official records show John Ternus was born in 1975 and joined Apple's product design team in 2001. He has worked on products like the Mac, iPhone, and AirPods, led the Mac's transition to Apple's M-series chips, and currently serves as Senior Vice President of Hardware Engineering, reporting to Tim Cook.

Image source: Bloomberg

Currently, Apple is expanding Ternus' authority. According to Bloomberg, Ternus oversees both hardware and software design teams, becoming a crucial liaison between Apple's renowned design team and senior management. Bloomberg reporter Mark Gurman believes, 'Ternus has become one of the most influential figures in Apple's history.'

Given Ternus' prime age, control over Apple's most critical hardware and software divisions, and increasing role as a spokesperson for key products, many foreign media outlets believe he is poised to succeed Tim Cook as Apple's next CEO.

As Apple's greatest competitive moat lies in its ecosystem barrier forged through deep hardware-software integration, a hardware-focused leader like Ternus could indeed solidify this advantage and sustain Apple's differentiated competitiveness.

03

Ternus Faces Immense Challenges in the AI Era

Despite his hardware background, John Ternus is not an 'innovator' like Jobs. According to Bloomberg, Ternus has often adopted a conservative stance when Apple considered launching new major products in recent years.

For instance, Ternus viewed the Apple Car cautiously, fearing that building cars in-house would divert company resources, erode profits, and reallocate engineers from core products. Ultimately, Apple abandoned its car project.

Image source: Apple

As an Apple executive told Bloomberg, John Ternus is 'a true engineer.' His strength lies in mastering every aspect of product development, ensuring high-quality execution of approved projects. A senior Apple executive remarked, 'If you think Tim Cook does well, you'll think John Ternus does well.' From this perspective, Ternus resembles 'a second Cook.'

If Apple aims to continue its decades-long strategy of creating differentiated consumer electronics, Ternus is undoubtedly the ideal successor to Tim Cook. However, the rapid rise of AI technology has sparked fierce disruption in the tech industry, imposing new demands on Apple's CEO.

Under Tim Cook, Apple has increasingly prioritized return on investment, hesitating to make forward-looking investments. In April 2025, *The New York Times* reported that in early 2023, Apple's AI chief, John Giannandrea, requested more GPUs from Tim Cook.

While Cook approved the request, then-CFO Luca Maestri slashed the budget increase to less than half the original plan, arguing that Apple's AI team could improve efficiency with existing chips.

As is widely known, ample computational power is crucial for deploying cutting-edge AI technologies. With its AI spending constrained, Apple has struggled in this domain.

Image source: The Information

For example, despite showcasing a personalized Siri in June 2024, Apple has yet to integrate large language models into Siri for natural language conversations. In January 2026, Apple reluctantly partnered with Google, with Gemini powering Apple's next-generation Foundation Models and enabling personalized Siri.

According to Bloomberg, citing internal sources, John Ternus is acutely aware that Apple needs more innovative products and a robust AI strategy.

Currently, Ternus is leading the development of AI-powered smart home devices and wearables like smart glasses, AirPods, and pendants, all equipped with cameras using computer vision to perceive their surroundings. Additionally, he is driving the development of foldable iPads and iPhones.

In summary, in the AI era, Ternus seems intent on following Cook's footsteps, continuing to strengthen Apple's hardware-based competitive edge and defending its profit 'gold mine' through differentiated hardware-software experiences.

Admittedly, AI applications are still in their infancy, and no 'AI Phone' has emerged yet. However, the explosive popularity of AI agents like OpenClaw largely reveals that in the AI era, software holds greater application value than hardware.

Ternus' conservative strategy of neglecting foundational models and AI software largely deviates from the AI era's developmental trajectory.

Indeed, Tim Cook has left his successor not just a tech empire worth trillions of dollars but a giant ship sailing into uncertain waters.

For Apple, the choice of the next CEO is no longer a simple personnel change but a strategic decision about its future—whether to continue as a 'product company driven by ultimate efficiency' or revert to being an 'innovation company that defines eras.'

John Ternus may inherit Cook's operational systems and product rhythms, but in an era where AI is reshaping industry boundaries, his conservative strategy's ability to guide Apple through a new technological cycle remains uncertain.

Fortunately, Tim Cook's successor has not yet been officially announced. This means Apple retains the initiative to recalibrate its strategic direction at critical moments.