Sponsored by: Apple is entering one of the most important periods in its modern history. Tim Cook After more than fifteen years, he is stepping down as CEO and handing over the reins to John Ternus, the current head of the hardware division. This is a significant milestone for the company. Cook During his leadership, he managed to Applu to make the company even stronger, more profitable and more valuable, which was fully reflected in the stock market.
Three smartphones close-up on a white background.
When Cook in 2011 he took over the management of the company from Steve Jobsoh, he had Apple market value of approximately $350 billion. Today, with a capitalization of around $4,5 trillion, it ranks among the largest companies in the world. Its financial results have also shifted significantly. Sales over the past twelve months have increased from approximately $100 billion to the current $467 billion, revenue from iPhone sales has increased from $45 billion to $246 billion, and net income has grown from $24 billion to approximately $129 billion.
CookThis era was also extraordinary from the perspective of investors. Shares Applu clearly outperformed the broader US market during that period. While the S&P 500 index gained approximately 760%, Apple increased by about 2,741%.
Source: Bloomberg Terminal
Apple has already passed its fastest growth phase
However, past successes do not mean that the same development will automatically continue. Apple continues to generate higher sales and profits, but growth is no longer as rapid as in the past. The iPhone remains the centerpiece of the business, which still accounts for about half of the company's total sales. In addition to hardware, however, during CookThe management has also significantly strengthened the service area.
Services today account for approximately a third of sales Applu and thanks to higher margins they have even greater weight for the resulting profit. These include, for example App Store, Apple Music, Cloud and other digital services and subscriptions. It is this part of the business Applu helped gradually reduce dependence on sales of individual devices.
On the other hand Cookin recent years, it has often been recalled that Apple did not come up with a product that would change the market in the same way as the iPhone once did. The company did introduce a number of important technological innovations, including its own M-series chips and a headset Apple Vision Pro, but their impact on the overall business is still limited compared to the iPhone.
The new leadership faces a complex equation with China
One of the biggest topics for John Ternus will be China. Apple It is heavily dependent on it, especially for its production and supply chain. In a time of geopolitical tensions, trade disputes and efforts to move some of its production to other countries, this is an area that the new management will have to handle very carefully.
Source: Statista, Apple, Morningstar
China is not only a production base, but also a key market. Apple Here, it has long been competing with domestic brands that are increasingly attractive to local customers. Ternus will therefore have to find a way to limit production risks while not losing its position in one of the world's most important markets.
Artificial intelligence will be an important test
Artificial intelligence will also be a big test. Apple Although it is among the most valuable technology companies in the world, it is not yet as aggressive in the AI race as some competitors. Microsoft, Alphabet, Amazon and Meta are investing huge amounts in their own models, data centers and AI infrastructure. Apple on the other hand, they are mainly focusing on deeper integration of artificial intelligence into their devices, systems and services.
This doesn't have to be a weakness. Thanks to its huge user base, proprietary operating systems, and strong ecosystem, it can Apple to bring AI features to customers very naturally. Instead of directly competing for the biggest models, it can benefit from offering AI as a practical part of everyday use of an iPhone, Mac or other devices.
However, the market is now watching AI very closely. If investors get the impression that a technology company is lagging behind, it can quickly affect their expectations for future growth.
John Ternus takes over the company at a time when he has Apple After an exceptionally strong period, but with new questions ahead, his hardware experience could be important to the company just as it needs to come up with more compelling products and better connect AI to devices used by hundreds of millions of people.
Next chapter AppTherefore, it will not be just about continuing what has worked so far. The decisive factor will be whether the company can find a new source of growth that will allow it to maintain its exceptional position in the years to come.
Apple is one of the companies that can significantly benefit from the development of artificial intelligence. If you are interested in which other companies can be associated with the AI boom and what opportunities and risks this trend brings, download the free XTB e-book dedicated to companies linked to artificial intelligence.
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