Apple Is Handing Its New CEO the Keys Right Before Wall Street's Toughest Month
One of the world's most successful companies is going through a leadership change at an inopportune time of year.
Overview
Tim Cook took the reins as CEO of Apple (NASDAQ: AAPL) on Aug. 24, 2011, when he replaced Steve Jobs. Since that date, shares of the consumer technology powerhouse have climbed a jaw-dropping 2,240% (as of Aug. 27). The company's market capitalization exploded from $349 billion then to $4.6 trillion today.
On Sept. 1, John Ternus will become the next CEO of Apple. He's stepping into the role after having been senior vice president of hardware engineering since 2021. He has massive shoes to fill.
Details
Apple is welcoming Ternus into the top job right before the stock market typically has its worst month of the year. But don't panic and sell your stake. Instead, stay focused on the long term.
Source
Originally published at www.fool.com.