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
127 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
127 months ago
ugh, i miss steve jobs... :(
Score: 23 Votes (Like | Disagree)
sunspot42 Avatar
127 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
127 months ago
Good on Tim. :)
Score: 16 Votes (Like | Disagree)
viperGTS Avatar
127 months ago
Good job Apple and Tim! Keep the amazing products coming! :)
Score: 14 Votes (Like | Disagree)
Peace Avatar
127 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)

Popular Stories

RIP iPod Feature

RIP iPod: A Look Back at Apple's Iconic Music Player Over the Years

Friday May 13, 2022 2:25 pm PDT by
Apple earlier this week announced the discontinuation of the iPod touch, and because it was the last iPod still available for purchase, its sunsetting effectively marks the end of the entire iPod lineup. To send the iPod on its way, we thought it would be fun to take a look back at some of the most notable iPod releases over the last 21 years. Original iPod (2001) Introduced in October...
iOS 16 mock for article

Gurman: iOS 16 to Include New Ways of System Interaction and 'Fresh Apple Apps'

Sunday May 15, 2022 6:14 am PDT by
iOS 16 will include new ways of interacting with the system and some "fresh Apple apps," Bloomberg's Mark Gurman has said, offering some more detail on what Apple has in store for the upcoming release of iOS and iPadOS set to be announced in a few weeks at WWDC. In the latest edition of his Power On newsletter, Gurman wrote that while iOS 16 is not likely to introduce a major face-lift to...
maxresdefault

Unbox Therapy Shares Hands-On Look at iPhone 14 Pro Max Replica

Monday May 16, 2022 4:40 am PDT by
YouTuber Unbox Therapy has shared a hands-on look at the iPhone 14 Pro Max using what he claims is a one-to-one replica created by third-party case makers with access to detailed schematics and dimensions for Apple's new upcoming flagship smartphone. As with the iPhone 13 Pro lineup, in 2022, we are expecting a 6.1-inch iPhone 14 Pro and a 6.7-inch iPhone 14 Pro Max, but this time the Pro...
iOS 15

Apple Releases iOS 15.5 and iPadOS 15.5 With Wallet and Podcast Updates

Monday May 16, 2022 10:00 am PDT by
Apple today released iOS 15.5 and iPadOS 15.5, the fifth major updates to the iOS and iPadOS 15 operating systems that were initially released in September 2021. iOS and iPadOS 15.5 come a little over two months after the launch of iOS 15.4 and iPadOS 15.4. The iOS 15.5 and iPadOS 15.5 updates can be downloaded for free and the software is available on all eligible devices over-the-air in...
14 16 inch 2021 mbps back to back feature orange

Five Things You Still Can't Do With a MacBook Pro

Wednesday May 11, 2022 11:16 am PDT by
It's been over 200 days since Apple debuted its redesigned MacBook Pro lineup. Offered in 14-inch and 16-inch display sizes, the new-look MacBooks wowed Apple fans and creative pros alike with their powerful custom Apple silicon, mini-LED screen, and multiple connectivity options. But there are still some things you can't do with a MacBook Pro. Here are five features some Mac users are still...
apple mac ipad watch trade in

Apple Launches Limited-Time Bonus Trade-In Credit for iPhone, iPad, Mac, and Apple Watch in Many Countries

Wednesday May 11, 2022 5:14 am PDT by
Apple has launched a special limited-time offer for iPhone, Apple Watch, Mac, and iPad trade-in that offers customers additional credit when trading in their only device for a new one. The offer is being run in several countries including the US, UK, Germany, Spain, Italy, South Korea, Japan, Taiwan, China, India, and France. In the UK, Apple is offering up to £50 of extra trade-in credit...
airpodsprodesign

Kuo: AirPods, MagSafe Battery Pack, and Other Apple Accessories Also to Switch to USB-C in Future

Sunday May 15, 2022 5:59 am PDT by
Earlier this week, well-known Apple analyst Ming-Chi Kuo claimed that Apple plans to release at least one iPhone 15 model with a USB-C port in 2023. Now, in a follow-up tweet, he has claimed that accessories like AirPods, the MagSafe Battery Pack, and the Magic Keyboard/Mouse/Trackpad trio would also switch to USB-C in the "foreseeable future." Both the iPhone and all of the aforementioned...