John Ternus became the new CEO of Apple Inc. on Tuesday, succeeding Tim Cook who served as chief executive officer since August 24, 2011. ^[1] Tim Cook stepped down as CEO of Apple Inc. on Tuesday, handing over leadership to John Ternus. ^[2] Apple's stock price surged 2,275% since Tim Cook took over from Steve Jobs in 2011, and total returns including dividends reached 2,736%. ^[3] John Ternus is expected to unveil a foldable version of the iPhone at a critical event next week. ^[4] Apple's market capitalization grew from under USD 350 billion when Cook took over to over USD 4.6 trillion, making it a diversified business selling iPhones, Macs, watches, and AirPods. ^[5] During Cook's tenure, Apple's total return on stock reached 2,716%, significantly outperforming the S&P 500's 757% gain over the same period. ^[6] Under Tim Cook's leadership, Apple's stock price increased by 2,258% from August 24, 2011, when he succeeded Steve Jobs. ^[7] Apple's stock has benefited from its image as an anti-AI play during periods of angst over the technology, with a 40-day correlation to the S&P 500 turning negative for the first time in more than a decade. ^[8]