Trump praises Tim Cook's leadership, says he will 'continue to do great work for Apple'

Apple announced Tim Cook will step down as CEO effective Sept. 1 and transition to Executive Chairman while John Ternus, formerly SVP of Hardware Engineering, will become CEO. President Trump publicly praised Cook on social media. The news produced a modest positive market reaction: AAPL shares were quoted at $273.05, up about 1.04%, and Apple’s market cap is listed near $4.01 trillion. The piece notes Cook’s long tenure and company growth under his leadership, and says Cook will assist with the transition and engage with policymakers. Market implications are a short-term positive sentiment around continuity and leadership stability, though the longer-term impact will depend on Ternus’s execution and strategy.