Apple Hits New Highs as Tim Cook Celebrates One Year as CEO

One year ago today, Steve Jobs stepped down from the CEO post he held for more than a decade, making Tim Cook the head of what is now the most valuable publicly-traded company in the world. After the announcement, Apple's stock dropped more than 5% in after hours to $351.

One year later, Apple is the most valuable publicly-traded company ever (not accounting for inflation) with a current share price of $668, gaining more than 75% year-over-year. With Cook in charge, Apple has recorded its three best quarters ever; released the iPhone 4S, the new iPad, the Retina MacBook Pro, Mountain Lion; and previewed the next version of iOS.

NewImage
The San Jose Mercury News writes of Cook's first year, accompanied by the above chart:

"Tim knows he's not Steve Jobs and doesn't try to be," says Jeffrey Sonnenfeld, a senior associate dean at the Yale School of Management. "He's comfortable in his own skin, and he's done a remarkable job of under-promising and over-delivering. When Jobs walked out the door last year, a lot of people figured much of Apple's magic would disappear. It hasn't."

Cook, whom Apple did not make available for this story, inherited much of that Jobs-induced magic, from Apple's wildly successful iPhone and iPad to its burgeoning network of stores stuffed to the gills with the gadget-hungry masses. Yet many analysts say it is Cook's trademark mastery of supply-chain efficiency, first tapped when Jobs hired him 14 years ago to run the manufacturing side of the business, that leaves the 51-year-old workaholic and fitness buff poised to take Apple to ever greater heights.

Cook has also made some significant changes at the company, though Jobs was certainly aware of some of them. He expanded Apple's charitable giving, initiated a dividend and share repurchase program, as well as throwing open the proverbial doors to its contracted factories with a thorough inspection by the Fair Labor Association.

The company has also been more responsive to criticism, reinstating support for the EPEAT environmental registry with a very public letter from Senior Vice President Bob Mansfield. More recently, Apple reversed changes in scheduling at Apple Retail Stores after coverage in the press and from within Apple Retail's own ranks.

The upcoming holiday quarter should again be Apple's strongest ever, with rumored upcoming announcements of the next-generation iPhone, a smaller iPad, a 13" Retina MacBook Pro, as well as continued rumors about an Apple television or set-top box.

Top Rated Comments

inkswamp Avatar
120 months ago
This is where you will wish the down vote was still around.

Tim is riding the coat tails of Steve Jobs. Give it another year so we can see what Tim really produces.
Common misconception but if you've been paying attention over the last 5+ years, you'd already be aware that Tim Cook has been playing an ever-increasing role at Apple, and I'd wager that he'd been the unofficial CEO for at least 2 years prior to Jobs' death. The idea that this is all new to Tim Cook and that he's still unproven is misguided.
Score: 34 Votes (Like | Disagree)
WhySoSerious Avatar
120 months ago
ugh, i miss steve jobs... :(
Score: 23 Votes (Like | Disagree)
sunspot42 Avatar
120 months ago
People forget...

Tim Cook had at least as much to do with getting Apple to where they're at today as Steve Jobs did. I'd argue that without Cook's mastery of the operational nuts & bolts, they'd have never been able to capitalize on any of Apple's design superiority.

So long as he's at the helm they'll do fine. I'm more concerned about what happens when he's gone. Nobody lives forever.
Score: 20 Votes (Like | Disagree)
Rhett3 Avatar
120 months ago
Good on Tim. :)
Score: 16 Votes (Like | Disagree)
viperGTS Avatar
120 months ago
Good job Apple and Tim! Keep the amazing products coming! :)
Score: 14 Votes (Like | Disagree)
Peace Avatar
120 months ago
This is where you will wish the down vote was still around.

Tim is riding the coat tails of Steve Jobs. Give it another year so we can see what Tim really produces.
Score: 12 Votes (Like | Disagree)

Related Stories

studio buds family

Beats Studio Buds Debuting Today With Active Noise Cancellation, Stemless Design, and More for $150

Monday June 14, 2021 8:00 am PDT by
We've seen a lot of teasers about the Beats Studio Buds over the past month since they first showed up in Apple's beta software updates, and today they're finally official. The Beats Studio Buds are available to order today in red, white, and black ahead of a June 24 ship date, and they're priced at $149.99. The Studio Buds are the first Beats-branded earbuds to truly compete with AirPods...
airtag in hand

Apple Enhancing AirTags Anti-Stalking Measures With Android App and Shorter Sound Intervals

Thursday June 3, 2021 11:10 am PDT by
Apple is enhancing AirTags security to prevent stalking using the Bluetooth devices, Apple told CNET today. Apple is already sending out over-the-air updates to AirTags that will shorten the amount of time before an unknown AirTag alerts you if it is in your possession. At the current time, AirTags play a sound after three days of being away from their owner. After the update, AirTags will...
maxresdefault

Here's How Apple's New iPhone to iPhone Data Migration Feature Works in iOS 12.4

Tuesday July 23, 2019 1:20 pm PDT by
Apple this week released iOS 12.4, the newest version of iOS 12 available for iPhones and iPads. One of the new features in iOS 12.4 is an updated data migration option that uses device to device transfers rather than relying on iCloud. Apple didn't provide much information on the new data migration feature, so we thought we'd check it out in our latest YouTube video. Subscribe to the ...
youtube apple tv

YouTube Discontinuing 3rd-Generation Apple TV App, AirPlay Still Available

Wednesday February 3, 2021 3:09 pm PST by
YouTube is planning to stop supporting its YouTube app on the third-generation Apple TV models, where YouTube has long been available as a channel option. A 9to5Mac reader received a message about the upcoming app discontinuation, which is set to take place in March.Starting early March, the YouTube app will no longer be available on Apple TV (3rd generation). You can still watch YouTube on...
macos catalina legacy system extension alert

Apple Begins Warning Users That 'Legacy System Extensions' Won't Work With a Future Version of macOS

Wednesday March 25, 2020 9:53 am PDT by
Apple has shared a new support document that indicates kernel extensions — which it calls "legacy system extensions" — will not be compatible with a future version of macOS because they "aren't as secure or reliable as modern alternatives."System extensions are a category of software that works in the background to extend the functionality of your Mac. Some apps install kernel extensions, which...
os x mountain lion macs 16x9 2

Apple Makes OS X Lion and Mountain Lion Free to Download

Wednesday June 30, 2021 12:19 pm PDT by
Apple recently dropped the $19.99 fee for OS X Lion and Mountain Lion, making the older Mac updates free to download, reports Macworld. Apple has kept OS X 10.7 Lion and OS X 10.8 Mountain Lion available for customers who have machines limited to the older software, but until recently, Apple was charging $19.99 to get download codes for the updates. As of last week, these updates no...
airtag precision finding

AirTag Includes U1 Chip for 'Precision Finding' Feature

Tuesday April 20, 2021 12:11 pm PDT by
Apple's long-awaited AirTag was finally unveiled today, and as expected, the small circle-shaped accessories can be attached to items like wallets, keys, and more to allow them to be tracked in the Find My app. As was rumored ahead of release, each AirTag is equipped with a U1 chip, and on devices that also have U1 chips, there's a Precision Finding feature. U1 Ultra Wideband chips are...
iOS 15 General Feature Yellow

Everything New in iOS 15 Beta 6: SharePlay Disabled, Safari Redesigned and More

Tuesday August 17, 2021 2:12 pm PDT by
Apple released the sixth beta of iOS 15 just a week after the fifth beta, but the new update brings some of the most significant tweaks that we've seen to iOS 15 during the beta testing period. Safari Redesign Apple in iOS 15 beta 6 has added a toggle to move the Safari address bar to the top of the interface, which returns Safari to an iOS 14-like design and mitigates all of the Safari...
m1 macbook air

Kuo: Mini-LED MacBook Air Coming in Mid-2022

Thursday July 22, 2021 7:48 pm PDT by
Apple will release a new version of the MacBook Air around the middle of 2022, Apple analyst Ming-Chi Kuo said today in note to investors seen by MacRumors. The upcoming MacBook Air will feature a 13.3-inch mini-LED display, which would make it the second Mac to gain mini-LED technology after the 2021 MacBook Pro, which is rumored to include a mini-LED display and is expected to launch later ...
2016 macbook pro flexgate b

Apple Faces Another Class-Action MacBook Pro ‘Flexgate’ Lawsuit

Thursday August 20, 2020 6:43 am PDT by
Another class-action complaint has been lodged against Apple, which claims that the company was aware of a MacBook Pro design flaw that caused some devices to have backlight display issues (via Apple Insider). The so-called "flexgate" problem was present in some MacBook Pro models manufactured between 2016 and 2017. The problem appears as dark patches along the bottom of the MacBook Pro's...