Tim Cook will step down as Apple CEO and hand reins over to the iPhone maker’s hardware leader

Apple CEO Tim Cook is stepping down after a 15-year tenure that saw the company’s market value increase by over $3.6 trillion, largely due to the success of the iPhone. Cook, 65, will transition to the role of executive chairman, with John Ternus, Apple’s head of hardware engineering, taking over as CEO on September 1. This change mirrors transitions by other tech leaders like Jeff Bezos and Reed Hastings. Ternus, who has been with Apple for 25 years, is well-prepared for the role, having overseen engineering for key products like the iPhone, iPad, and Mac. The leadership change comes as Apple faces challenges in artificial intelligence, an area where it has struggled to keep pace. Cook’s legacy includes leading Apple to become the first company valued at $1 trillion, then $2 trillion, and $3 trillion. QUESTION: How might the shift in leadership at Apple influence the company’s approach to emerging technologies like artificial intelligence?