How golden was Tim Cook's Apple?
Axios · LC · trust 37/100
Add Axios on Google Data: Financial Modeling Prep; Chart: Erin Davis/Axios Visuals Apple CEO Tim Cook hands the reins over to John Ternus Tuesday, stepping down after 15 years of running the company.
By the numbers: When Cook took over in August 2011, Apple's stock was trading at $13.35. It closed at $316.61 on Monday.
Zoom in: That 2,272% gain easily outpaced the growth of the major stock indexes.
Stunning stat: Under Cook, Apple's market cap grew by $32 million an hour for 15 years, Bank of America calculated last month.
The big picture: Cook's big innovation was taking the company from its roots as a device maker beholden to product cycles to a juggernaut with a huge recurring-revenue business built on App Store fees and services like iCloud, Apple TV and Music, Apple Pay and Apple News+.
What to watch: The next challenge is how to navigate the AI era — there's some uncertainty there.
Yes, but: For all of Cook's magic, Steve Jobs still has a winning number.
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