Apple’s stock rose 1,932% during Cook’s tenure.

Yet Cook’s reign pales in comparison to that of Steve Jobs after his 1997 return — during which Apple’s revenue and profits multiplied far faster, as did the company’s innovation engine. In Jobs’ final six years, Apple’s market capitalization rose 329% versus the 144% increase during Cook’s first six years, according to Time.

It can be argued that Cook picked a successor in his image. John Ternus is an organizationally savvy hardware engineer with a reputation for tweaking existing products, noted The Wall Street Journal.

Investor reaction has been cautious, and analysts told CNBC they expect limited stock movement until it becomes clear whether Ternus can revive Apple’s innovation engine with new hardware propelled by AI.

Based on his track record, I am skeptical of seeing industry-leading innovation coming out of Apple under Ternus. However, more optimistic traders should wait to see whether Ternus can launch new products that spur much faster growth by capturing the AI wave with Jobs-like product superiority.

Cook vs. Jobs: Two Very Different Growth Stories

Tim Cook has prevailed over modest revenue and profit growth and a compelling rise in Apple’s stock to a $4 trillion market capitalization. Between fiscal years 2011 and 2024, the company’s revenue rose at a 10.6% annual rate to $391 billion, while net income increase at a 10.5% average........

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