After a nearly 15-year stint as CEO of Apple Inc. (AAPL), Tim Cook is stepping down and handing the reins to John Ternus, who has been with the company since 2001. We believe the transition will be a simple continuation of strategy, and that Ternus is the right person for the job, says Nancy Tengler, CIO of Laffer Tengler Investments.
Ternus has been on the hardware engineering team since 2013 (and has led it for the last five years), a role where he was responsible for the physical design and engineering of almost every major Apple product. Apple is focusing on what it’s good at — designing hardware, marketing it, and creating an ecosystem.
(Editor’s Note: Nancy is speaking at the 2026 MoneyShow Masters Symposium Las Vegas, scheduled for July 19-22. Click HERE to register.)
Apple Inc. (AAPL)
Ternus has been a mentee of both Steve Jobs and Tim Cook during his time at Apple. From Jobs, he learned that “the product is the narrative,” and from Cook, he learned operational rigor, like supply chain analysis and competitive positioning.
He led the monumental shift from Intel Corp. (INTC) processors to Apple silicon, a feat that lowered costs, addressed battery life concerns, and allowed for the production of fan-less laptops like the MacBook Air. In addition, he oversaw the launches of multiple generations of iPhones, iPads, and AirPods.
Ternus is keen on leveraging AI, but in the same pragmatic hybrid fashion that is already occurring at the company. We believe that will be a winning strategy, as we do not think Apple needs to reinvent the wheel. It can take someone else’s Large Language Model (LLM), design the packaging, and consumerize it — just like they have done before.
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