Apple stock price today: Share tumbles 1% as Tim Cook steps down as CEO

Apple’s long-serving CEO Tim Cook is stepping down on September 1, transitioning to executive chairman. John Ternus, a hardware veteran, will take the helm. This leadership change occurs as Apple faces pressure to accelerate its AI strategy, lagging behind rivals who are heavily investing in the technology. Cook’s 15-year tenure ends amidst supply chain challenges and rising costs.