Apple’s announcement Monday that CEO Tim Cook will step down and John Ternus will take over signals a significant shift for Apple: The company is betting its future on the most rapidly evolving technology in the history of computing.
Apple is still flying high on the iPhone’s success, which helped it become one of the few publicly traded companies to reach a $4 trillion market value last year. Cook expanded the iPhone beyond a mere product into a foundation for new business segments like wearables, digital services and health.
Ternus will have to figure out Apple’s next path – and he’ll have to do it