What Tim Cook built: A look at Apple's operations legacy as CEO steps down

After 15 years as Apple's CEO, Tim Cook will step down from the role in September. Incoming CEO John Ternus will take over a company whose revenue and services business have grown substantially under Cook's leadership. Cook took over from Steve Jobs in 2011. On TechCrunch's Equity podcast, reporters noted that Cook built operations strategy into what they described as an Apple product that changed whole economies. The company's numbers keep going up, and the services business that Cook spun up makes an incredible amount of money. Sean O'Kane said Ternus is getting a strong running start because the business is sturdy even in turbulent times. The App Store is also performing well lately, with installs and new releases both up. Apple had more than $45 billion in cash on hand at the end of 2025. The podcast participants noted that Cook will become executive chairman after stepping down as CEO, so he will not be leaving entirely. They discussed his relationship with the Trump administration, noting that Donald Trump posted on Truth Social about Cook in response to the news. Apple has also done brand-building through content, including winning an Oscar for a movie. The company has faced criticism that some products have stagnated, and its Project Titan car effort petered out after significant spending. The conversation also touched on whether Apple needs to create a new product category or whether its existing hardware and services businesses are durable enough.