Tim Cook Steps Down as CEO, Apple Shares Immediately Slump

The market reacted immediately after Tim Cook announced his resignation from his position as CEO of Apple on Tuesday (21 April 2026). Apple’s shares weakened in after-hours trading, reflecting the market’s slight surprise at the news of Cook’s departure. This decline also likely stems from sentiment of concern over the leadership transition at the technology giant that produces the iPhone, iPad, and Mac. At the close of regular trading on Monday (20 April 2026) US time, Apple’s shares were still up at $273.05 (around Rp4.6 million), a 1.04 per cent increase. Apple confirmed that Cook will officially step down on 1 September 2026, after more than a decade leading the company since August 2011. The CEO position will be filled by John Ternus, who currently serves as Senior Vice President of Hardware Engineering. Although stepping down from the CEO role, Cook will not fully leave Apple. He will remain with the company as Executive Chairman and assist with several strategic aspects, including relations with global regulators. During his tenure, Cook is credited with successfully elevating Apple to new heights. Under his oversight, Apple successfully launched several key products such as the Apple Watch and AirPods, and drove growth in the services business (Services like the App Store, Apple Music, iCloud), which is now one of the company’s largest revenue contributors. Apple’s annual revenue even rose nearly fourfold, from $108 billion (around Rp1,827 trillion) to $416 billion (around Rp7,036 trillion). Under Cook’s leadership, the company headquartered in Cupertino, California, also undertook a major transition from Intel processors to its own chips. This is said to have improved performance as well as power efficiency in the Mac lineup. However, judging from the market’s immediate negative reaction following the announcement of Tim Cook’s resignation, it indicates that investors are still scrutinising the direction of Apple’s strategy post-Cook leadership. As of now, Tim Cook will continue to lead the company until he officially hands over the position in early September.