A leak about Tim Cook's retirement that emerged late last year indicated that hardware chief John Ternus would be Apple's planned successor and that the announcement would be made before WWDC in June 2026.

At the time, I wrote that this was a very clear trial balloon to test reactions to the company's plans, and now we can see that it indeed paved the way for the announcement made yesterday...

It was clear that Steve Jobs would always be an impossible figure to follow, but it is no coincidence that Tim Cook is his personal choice – and no one can deny the tremendous growth experienced under the current CEO's leadership. Zerohedge summarized these figures.

During Cook's tenure, Apple's market value rose from $350 billion to $4 trillion, which is an increase of over 1,000%; meanwhile, revenue quadrupled from $108 billion in 2011 to $416 billion in 2025.

Now, the Services division alone generates more than a quarter of the company's total revenue at the time Cook took over. Bloomberg provided more details.

We got a preview of both Apple's approximate timing and who will succeed Cook; this was thanks to a Financial Times report last November. I was not alone in suggesting that this was "clearly a deliberate attempt to test market reactions."

This has all the hallmarks of a deliberate leak […] Considering the growth under Cook's leadership, it is natural for the board to be concerned about the market reaction to his retirement. If he indeed plans to retire next year, the company will want to gauge investors' reactions and give people time to get used to the idea so that it is not shocking when the announcement is made […]

I would not be surprised at all to see an official announcement in the first half of next year. It is possible that Cook will temporarily take on a presidency or advisory role to further reassure investors.

Everything leaked last November was reflected in the official announcement:

  • The announcement was made before WWDC 2026
  • John Ternus is the successor
  • Cook will become chairman of the board

Apple must have been pleased with the results of the trial balloon: the stock price barely changed, and commentators were nearly unanimous that Ternus is the right person to take over Cook's role.

This is exactly how events unfolded after the real announcement. Both the reactions from Apple and the financial media were positive, and the stock price again barely changed in pre-market trading.

I will say more about Apple's future under Ternus's leadership, but the first phase of Apple's plan – the announcement – went as expected.

  • Official Apple Store on Amazon
  • Apple's iPhone cases: iPhone 17 | iPhone 17 Pro and Pro Max | iPhone Air
  • Wireless CarPlay adapter (2026 update)
  • AirTag holders and accessories
  • Mac Pro style Mac mini case
  • NordVPN – a privacy-focused VPN that does not log and is verified by independent audits

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