Key Points
Apple's market cap is now over $4 trillion, making it the third-largest company in the world.
John Ternus is a 25-year Apple veteran and a leader in the company's engineering department.
Apple has faced criticism for its lackluster product improvements and launches in the past few years.
Since Tim Cook took over as Apple's (NASDAQ: AAPL) CEO in 2011, the company has grown into a $4 trillion behemoth. Where the technology company was focused on innovation under Steve Jobs, Cook turned it into a financial juggernaut. Investors are rightfully questioning what the next chapter in the tech giant's development will look like under heir apparent John Ternus.
There are two reasons I believe that investors should be excited about this new CEO.
First, Ternus is a visionary engineer whose fingerprints are on almost every product in Apple's storied history over the past 25 years. Secondly, he has a chance to return Apple's primary focus to engineering innovation.
Ternus is currently Apple's senior vice president of Hardware Engineering. Those who know him describe him as a leader with technical expertise and high creativity. Apple has faced growing criticism in the last few years that its product launches have become unexciting and lackluster. Ternus has an opportunity to reinvigorate the company and set Apple on a more ambitious product path.
Ternus won't assume his new role for several more months, but this next era of Apple should keep the company under capable leadership. A veteran insider with a quarter-century of experience within the company, combined with technical expertise, is what made Apple great in the past. Investors should be excited as the sentiment around the leadership change implies it will reenergize Apple even before Ternus takes over.
As of this writing, Apple stock is trading about 4% down from all-time highs. While the company still lags in artificial intelligence (AI), its core products remain in high demand and are growing worldwide. You might want to give the stock a closer look to see if it will set some new highs going forward.
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Catie Hogan has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
