The big picture: This month marks Tim Cook's 14th year as CEO of Apple. As the company looks toward future software and hardware launches, Cook remains optimistic about the Vision Pro despite its tepid reception. Meanwhile, analysts and insiders struggle to predict who his successor might be.
Cook's comments on the Vision Pro, one of the signature products of his tenure, came during Apple's earnings call for the quarter ending in June. He discussed the headset's upcoming OS update and enterprise applications.
Cook took over as Apple CEO immediately after co-founder Steve Jobs left the position in August 2011 – two months before he passed away. After being ousted in 1985, Jobs returned as interim CEO in September 1997 before formally resuming the role in January 2000.
The era following Jobs' return marked Apple's resurgence through iconic consumer electronics, such as the iPod, iPhone, iPad, MacBook Air, and MacBook Pro. Cook, meanwhile, oversaw the introduction of wearables like the Apple Watch and AirPods, the company's turn toward producing streaming content, the Mac line's adoption of in-house Arm-based processors, and the launch of the Vision Pro.
Apple's take on the emerging virtual and augmented reality headset market, the Vision Pro, launched last year with a $3,500 price tag that clearly placed it outside the mainstream consumer market. Aside from its bulkiness, users regretted buying it due to a lack of useful applications.
Still, analysts predict that Apple is pressing forward with a new model that could launch this year, equipped with a new M-series chip and Apple Intelligence capabilities. During the earnings call, Cook expressed excitement over forthcoming updates to visionOS, including customizable widgets and three-dimensional web browser functionality. He also hopes more companies develop unique spatial experiences, like CTE's professional aircraft simulator.
Insiders recently told Bloomberg that the 63-year-old likely plans to remain Apple CEO for at least another three years. If and when he retires, the identity of his successor is unclear, but a few candidates have emerged.
Hardware Engineering head John Ternus is the most likely pick. He has recently presented multiple new products from the company, and he's young enough to begin a tenure of similar length to Cook's or Jobs'. However, some insiders have also mentioned COO Jeff Williams, retail chief Deirdre O'Brien, and Software Engineering head Craig Federighi.
