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Here Is What Apple CEO Tim Cook Plans To Do Before Stepping Down

Benzinga2021-08-30

Apple Inc AAPL 0.72%CEO Tim Cook has been leading the tech giant for the last ten years, and a report suggests he "probably" won't be with the company in another ten years' time.

What Happened:The Apple Insider has reported, quoting Bloomberg's Mark Gurman's "Power On" newsletter, that Apple employees think Cook will stay around for one more major new product category before stepping down as CEO.

"The belief inside Apple is that Cook just wants to stick around for one more major new product category, which is likely to be Augmented Reality Glasses rather than a car — something that's even further out," writes Gurman.

In December 2020, Reuters reported Apple is aiming to launch an autonomous electric vehicle in 2024.

"He also understands that running a Silicon Valley company is typically a young person's game, and he's not going to stay far beyond his prime," Gurman added.

In April, when asked about staying with Apple for a decade, Cook said, "Ten more years? Probably not. But I can tell you that I feel great right now and the date is not in sight. But ten more years is a long time — and probably not ten more years."

Gurman speculates that Cook will retire sometime between 2025 and 2028. He added that Cook's pay deal would also expire in 2025.

Why It Matters:Just ten years ago,Tim Cook took over as CEO of Apple for iconic visionary Apple co-founder Steve Jobs. At Jobs' departure, some investors and analysts were skeptical of Cook's ability to fill Jobs' shoes.

Apple integrated its popular voice assistant Siri into the iPhone 4S in 2011. In 2014, Apple unveiled the Apple Watch. In 2015, it launched the streaming service Apple Music. The iPhone X in 2017 came with facial recognition software, a 3D camera, and wireless charging capabilities.

In 2019, Apple launched the streaming video service Apple TV+. Apple has also been working on its secret "Project Titan" auto project at an undisclosed location since 2014.

Apple shares have generated a total return of roughly 1,210% in the past decade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment23

  • Gracejul
    ·2021-08-31
    Great ?!
    Reply
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  • Kiwitry
    ·2021-08-30
    thanks
    Reply
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  • Kiwitry
    ·2021-08-30
    thanks for sharing
    Reply
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  • LixNg
    ·2021-08-30
    ??
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  • SSVC
    ·2021-08-30
    …hmm Appreciate your comments and response Thanks 
    Reply
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  • AndrewChia
    ·2021-08-30
    latest
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  • SXZX2026
    ·2021-08-30
    Apple car for his legacy 
    Reply
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    • Ichua
      GooD one
      2021-08-30
      Reply
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    • AndrewChia
      up
      2021-08-30
      Reply
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  • domL
    ·2021-08-30
    Remarkable career ?
    Reply
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  • jack_paing
    ·2021-08-30
    like
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  • S071
    ·2021-08-30
    Comments
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  • 五指神獭
    ·2021-08-30
    ???
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  • Henryee18
    ·2021-08-30
    This is good news as he is not stepping down anytime soon.
    Reply
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    • PatChong
      Where's iphone 13?
      2021-08-30
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  • Kingcol
    ·2021-08-30
    Nice
    Reply
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  • AngelaChan
    ·2021-08-30
    Is this a bad news?
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    • ZeeWhyyy
      Liked
      2021-08-30
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    • AngelaChan
      time to buy?
      2021-08-30
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  • Tailwind
    ·2021-08-30
    Ok
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  • ragdoll99
    ·2021-08-30
    Great potential for whole apple ecosystem
    Reply
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    • Williamw
      Good
      2021-08-30
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    • Kingcol
      Nice
      2021-08-30
      Reply
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  • shoude
    ·2021-08-30
    Like and comment
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  • StayHome
    ·2021-08-30
    Who will be the next CEO after Tim Cook to lead Apple ?Pls like and comment. Thanks. 
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    • keaty
      well, that another junction. hope get new good ceo else... ?. GE was once around 600 bil just one wrong ceo, become crippled. now in recovery. hv to be v. careful
      2021-08-30
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    • Tygress
      Done
      2021-08-30
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  • Alice156
    ·2021-08-30
    Like
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  • ASMH
    ·2021-08-30
    Like 
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    • Shop
      done
      2021-08-30
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    • Skyee
      Done
      2021-08-30
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