Tim Cook who increased the stocks by 60% completes 9 years as Apple CEO

Tim Cook has completed 9 years as the CEO of Apple. According to reports by international media, tech giant Apple was worth under $400 billion when Cook joined as CEO. However, it was Cook who transformed the company into a tech giant as now it is worth five times more. Last week, Apple became the first publicly listed US company to reach a market value of over $2 trillion as the Cupertino-based California company continues to reshape the world. Reports by PTI suggest that the iPhone making company's shares have surpassed USD 467.77.

Tim Cook completes 9 years as CEO 

Apple's stock has climbed nearly 60% this year, suggests PTI. In recent weeks, the rally has been bolstered by excitement over a four-for-one stock split that Apple announced late last month in an effort to make its shares more affordable to a wider swath of investors. When late founder of Apple, Steve Jobs handed over Cook his responsibilities, he reportedly said that Apple's brightest days are yet to come. Apple analyst Gene Munster told AP that Cook as successor was "one of Steve Jobs' greatest accomplishments that is vastly under-appreciated”. 

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The four for one stock split has been one of the major measures of Apple's success under Cook. This move has no effect on share price but it definitely encourages the enthusiasm of the investor. Apple reportedly said that it initiated the stock split to make it easier for more people to buy shares in the company. According to calculations by the Bloomberg Billionaires Index, Tim Cook recently entered one of the most elite clubs for CEOs who didn’t actually found the companies they run with net worth reaching $1 billion.

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Not all technology companies are doing as well as they were before the pandemic but Apple has fared extraordinarily well as the timely April debut of a new iPhone model priced at about $400, 40% to 60% less than the fancier devices that it released last fall. The company will face another litmus test in October when it is expected to unveil a line-up of new iPhones, including a model capable of connection on the next generation of ultra-fast wireless networks known as 5G. However, the next series of iPhone is expected to come a little late due to production delays because of the pandemic. 

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(Image Credits: AP) (With inputs from agency)