Tim Cook has stepped down as Apple CEO and moved into the role of executive chair, with hardware executive John Ternus taking over. Bloomberg’s compilation shows Apple’s market capitalization stood at $349.9 billion on the day Cook took charge and has now reached $4.01 trillion, an increase of more than $3.66 trillion over 15 years. That record comes with a changed competitive order, as Nvidia and Alphabet both moved ahead of Apple in market value during the AI era.
Net profit rose from $14 billion to $112 billion
Apple’s earnings expansion is one of the clearest measures of Cook’s tenure. In fiscal 2010, the company posted net profit of about $14 billion. By the end of fiscal 2025, that figure had climbed to $112 billion, representing growth of 699%. The period included the Covid pandemic, global supply-chain disruptions, US-China tech tensions, and the pressure of a maturing smartphone market.
Ross Gerber, CEO of Gerber Kawasaki, told Bloomberg that Cook faced heavy doubt when he took over, but said he had done an outstanding job over the years.
2.5 billion active devices and 540 stores worldwide
Apple said earlier this year that its installed base of active devices had surpassed 2.5 billion. The scale reaches beyond hardware shipments. It also supports subscriptions, iCloud retention, and services revenue, which the company has continued to expand. In the most recent holiday quarter, Apple set records at the same time for revenue, iPhone sales, and services revenue.
Its retail footprint also widened under Cook. Apple’s store count grew from about 340 inherited locations to 540. In mainland China alone, the company has opened 50 stores across Chongqing, Guangdong, Hubei, and Yunnan. The source notes that Apple’s position in China is unusual among major US tech peers, especially as Google and Meta have had little access to the country’s consumer market.
iPhone average selling price climbed to $1,070
Apple also pushed pricing higher during Cook’s tenure. The iPhone average selling price was $712 in 2011, according to the source, and IDC data puts the 2025 figure at $1,070. Premium tiers such as Pro and Pro Max, along with features like titanium frames and ProRes recording, helped Apple move buyers toward higher-end models. The article says Apple has also started conditioning consumers to the idea of a $2,000 iPhone.
Before stepping down, Cook also left Ternus with a major domestic investment pledge in the US worth $600 billion. The commitment includes 20,000 new jobs, data-center expansion, infrastructure tied to Apple Intelligence, and a server production line in Houston.
Unfinished AI questions remain for Ternus
Cook’s record was not without setbacks. Apple’s car project was canceled, and Vision Pro remains a niche product. The bigger unresolved issue is AI. As the market shifted, Apple lost the top valuation spot in tech. Cook leaves behind a highly efficient operating machine; whether Apple can build its next engine of growth now becomes one of the first tests for Ternus.