What Will Tim Cook's Legacy Be?
Topics: Tim Cook and Apple
Taking Over for Steve Jobs: A Hard Act to Follow
Tim Cook has been at the helm of Apple for 11 years now. Since taking over as the Chief Executive Officer, Apple has grown by ~810% and is now the largest company in the world with a market cap of $2.65 trillion. This growth figure outpaces the S&P500 by 585.4%. It is easy to say that Cook turned Apple into a financial juggernaut, but what will his legacy be?
Many argue that Cook has not brought in a lot of technical innovation during his tenure. Michael Gartenberg, a writer at Business Insider, goes as far as to point out that Apple’s “innovation hasn't just slowed, it's plateaued, at least for the time being”.
It is important to note that Cook had big shoes to fill when Steve Jobs departed from Apple in 2011. Many still view Jobs as the “face” of Apple since he marketed some of the most innovative products in our lifetimes. As a result, Apple fans and the financial markets imposed high expectations on Tim Cook when taking over.
Were these high expectations unfair? I think so. The iPhone was a once-in-a-lifetime product that completely altered how we interact with the world. Since the first announcement of the iPhone back in 2007, no technology product has matched its disruption. Even outside of Apple, companies still long to create a product as influential as the original iPhone.
Putting the innovation argument aside, it is difficult to claim that Cook is a “poor” or “bad” CEO since he turned Apple into the biggest company on the planet. Some of his success can be attributed to Jobs’ innovations; however, transforming a company to this magnitude is no small feat. Cook had the foundation and ran off with it. Apple may be creating boring products, yet the masses still buy them. That is reason enough to conclude that Cook and Apple are still doing something right.
Apple’s Recent History and Future
During Cook’s tenure as CEO, he launched and continued many successful product lines: AirPods, Apple Watch, and Macs (specifically with the M1 and M2 chip innovations). For now, let’s just take a quick look at the AirPods. Everyone ridiculed AirPods upon their initial release, but now everyone and their mother owns a pair. Next time you are out in the town, just stop and take a look. AirPods are everywhere!
As a result, AirPods generated more revenue than companies like Adobe, Uber, and Nvidia back in 2020. Although this is an outdated revenue number, this is still an amazing feat. It is very hard to believe that one product can generate more revenue than some of these companies. When looking solely at the product features, AirPods are an amazing product. They work seamlessly across all of your Apple products as well as deliver quality and balanced sound.
When looking at the big picture, Apple has an amazing product line that consists of the Mac, iPad, iPhone, Watch, and AirPods. This does not even consider the company’s services, which brought in a modest $19.188 billion for Q4 2022. Slowly but surely, Apple continues to build upon its current product and service offerings. Therefore, making it even harder for customers to consider changing what company they buy their tech from. Apple is in a dream situation, as this ecosystem keeps customers’ eyes away from their competitor’s products.
I should make it clear that I am deep in the Apple ecosystem myself. The reliability and long life lifecycle of these products always draw me in. These products are built to last and I am always confident that I am getting a solid product. I am currently typing this post on my MacBook Air with the M2 chip and I can confidently say that the Mac lineup is one to keep an eye on in the future.
Even without an internal fan, this slim computer can get through any task that I throw at it (this includes video editing, photo editing, and any other basic tasks). In my opinion, these chips are the most impressive piece of technology that Apple has created since 2011. The performance that these chips deliver will certainly power a bright future for Macs. To put it simply, Apple is just getting started with these chips as they are still in an early lifecycle.
Looking further into the future, I do not have much faith in Apple’s rumored car and virtual reality headset. Given that these products are at such an early adolescent stage, it almost ensures that the first-generation releases of these products will be underwhelming. This is not an issue exclusive to Apple, as any tech company must manage expectations when putting out a new product.
In terms of recent news, look at Google and their Pixel Watch. A majority of tech reviewers and consumers love the aesthetic and features that this Watch offers; however, the battery life can barely survive a day. This is just one example of the growing pains that any company will face with a new product.
Apple may not be reinventing the wheel, but they are still creating products that provide great value and convenience in our lives. The future is still bright for Apple and Tim Cook - or at least I hope.
It is hard to create products that can change the world. Although, it is evident that Apple is taking strides to create products and services to improve our daily lives. Whether it be the Apple Watch’s Activity Rings to the AirPods’ ease of use, these little innovations add up to create significant value in our lives. Because of that, Tim Cook’s legacy will be hard to match for his predecessors.
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