(Bloomberg) — Fifteen years after succeeding Steve Jobs, Tim Cook is handing over the top leadership position at Apple Inc. to hardware specialist John Ternus. The outgoing chief executive officer, who\u2019ll stay on as executive chairman, built up an unprecedented record of success over his tenure. Here are some of the numerical highlights.<\/p>\n
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$3.66 Trillion<\/p>\n
Cupertino, California-based Apple was already a hugely influential company back in 2011, but with Cook as CEO the company grew its market capitalization tenfold. Valued at just under $350 billion on Aug. 24, 2011 \u2014 when Cook took over \u2014 it was the first to set several new highs for market valuation and currently sits at $4.01 trillion. Apple\u2019s market value is today roughly equivalent to the size of Britain\u2019s economy, the world\u2019s fifth largest. Remarkably, that lofty number isn\u2019t enough to make Apple the most valuable business, as Silicon Valley peers Alphabet Inc. and Nvidia Corp. have pulled ahead in the AI age.<\/p>\n
699%<\/p>\n
The fiscal year ending September 2025 brought in $112 billion in net income for Apple, eight times what the company achieved in September 2010. That 699% profit improvement has come despite a plateauing of smartphone sales, the Covid crisis, supply chain snarls and geopolitical tensions between the US and Apple\u2019s main manufacturing base, China.<\/p>\n
Cook expanded the budding iPhone and App Store ecosystem with a succession of complementary devices, from iPads at various sizes to Apple Watches at multiple price points and an expansive range of Made for iPhone accessories. Under his leadership, Apple never returned to the nomenclature of starting new product names with \u201ci\u201d, but he did everything to maximize the earning potential of that portfolio.<\/p>\n
\u201cWhen Tim Cook came over, there was a ton of doubt,\u201d said Gerber Kawasaki Wealth and Investment Management co-founder and CEO Ross Gerber. But \u201che\u2019s done a phenomenal job over the years.\u201d<\/p>\n
2.5 Billion Devices<\/p>\n
Apple in January reported it has an installed base of more than 2.5 billion active devices. The company sold its billionth iPhone in the summer of 2016, when Cook held up the boxed handset at a staff meeting. \u201cWe never set out to make the most, but we\u2019ve always set out to make the best products that make a difference,\u201d the CEO said at the time.<\/p>\n
Story Continues <\/p>\n
The most recent holiday period was a record across several company metrics: revenue, iPhone sales and income from services. While Cook hasn\u2019t broken much new ground with entirely novel products \u2014 the Apple car project was scrapped and the Vision Pro remains a niche \u2014 he\u2019s built up a cohesive ecosystem that keeps people coming back for more.<\/p>\n
540 Stores<\/p>\n
Cook inherited one of the world\u2019s most-respected retail operations, and built it up. He\u2019s added roughly 200 stores to Apple\u2019s global network and, importantly, expanded its mainland China presence dramatically. Apple now has 50 stores across locations like Chongqing, Guangdong, Hubei and Yunnan, reaching vastly more consumers in the world\u2019s biggest market for smartphones and PCs. Apple\u2019s success in China stands out among US Big Tech peers, with many like Google and Meta Platforms Inc. largely shut out from the consumer arena.<\/p>\n
$1,070 Average Price<\/p>\n
In 2017, Apple and Samsung Electronics Co. made the fateful decision to test the $1,000 boundary for smartphone pricing. The two global leaders both introduced devices that for the first time nudged up against and, with upgrades, pushed beyond that threshold. Each year since then has produced pricier options and additions \u2014 with Apple\u2019s expansion into Pro and Max variations of the iPhone leveling up the average selling price each year.<\/p>\n
After the original iPhone was famously lampooned by then-Microsoft CEO Steve Ballmer for being too expensive at $500 with subsidies, modern-day editions of the smartphone habitually cost twice as much. In 2011, Apple\u2019s average selling price for iPhones was $712, but by 2025 that figure stood at $1,070, according to market research firm IDC.<\/p>\n
Cook oversaw the move up into higher pricing strata, which this year helped Apple withstand the memory chip crunch better than Chinese rivals more dependent on budget devices.<\/p>\n
15,000 Metric Tons<\/p>\n
Cook has championed several environmental efforts at Apple, including greater use of recycled metals and cutting down on greenhouse gas emissions and excess packaging. Apple avoided the use of 15,000 tons of plastic over the past five years \u2014 the rough equivalent of 500 million plastic bottles \u2014 by redesigning its packaging, according to its environmental report this month.<\/p>\n
This year\u2019s new MacBook Neo ranks as Apple\u2019s lowest-carbon MacBook ever, according to the company, with 60% of its materials coming from recycling. It still has significant work ahead to achieve its ambition of carbon neutrality across its value chain by 2030.<\/p>\n
175 Acres<\/p>\n
Apple Park, the expansive and futuristic headquarters that Jobs first envisioned years earlier, came to fruition under Cook\u2019s leadership in 2017. The 175-acre campus \u2014 large enough to accommodate 100 American football fields with room to spare \u2014 houses more than 12,000 staff, 17 megawatts of rooftop solar energy generation and two miles of parkland paths for employees. It also has an orchard, meadow and a pond, according to Apple, which now habitually features its home base as the setting for new product launch videos.<\/p>\n
As of the end of September, Apple had 166,000 global employees, with millions more employed in the production and supply chain for its products.<\/p>\n
$600 Billion<\/p>\n
A major part of Cook\u2019s legacy will be a $600 billion US spending commitment he made last year. Apple\u2019s biggest investment plan ever, the outlay will go toward supporting 20,000 new jobs, data center expansion, Apple Intelligence infrastructure and production of servers in Houston, the company said. The announcement was part of Cook\u2019s work with the Donald Trump administration to avert punishing tariffs on iPhone imports to the US. As his successor, Ternus will have to live up to Cook\u2019s promises while also striking a fine balance between Apple\u2019s interests at home and those in key overseas markets like China.<\/p>\n
–With assistance from Chris Welch, Andy Lin and Yasufumi Saito.<\/p>\n
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\u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Fifteen years after succeeding Steve Jobs, Tim Cook is handing over the top leadership position at…\n","protected":false},"author":2,"featured_media":60791,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[155],"tags":[2327,30403,2085,2344,1021,628],"class_list":["post-60790","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tim-cook","tag-apple-inc","tag-apple-watches","tag-bloomberg","tag-john-ternus","tag-steve-jobs","tag-tim-cook"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116532876845693888","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/60790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=60790"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/60790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/60791"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=60790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=60790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=60790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}