库克退意已决，新CEO候补是个「硬件控」

Core Insights - Tim Cook, aged 65, has expressed fatigue and a desire to reduce his daily workload, indicating a potential leadership transition at Apple [2][4] - Apple's succession planning has been accelerated since 2025, with John Ternus, the Senior Vice President of Hardware Engineering, emerging as a leading candidate [5][10] - Apple's market value has recently dropped to 3.84 trillion, falling behind Alphabet, raising concerns about the company's future under potential new leadership [18][21] Leadership Transition - Tim Cook's annual compensation remains stable at $74.3 million, primarily driven by stock awards, signaling the board's intent to maintain stability during this transition [4][18] - John Ternus, who joined Apple in 2001, is noted for his low profile and strong alignment with Cook's operational style, making him a favored successor [7][10] - The board is cautious about power vacuums, having learned from past experiences during Steve Jobs' era [5][9] Challenges Ahead - Ternus's conservative approach raises questions about his ability to lead Apple into a new era, especially as key figures in AI and design are leaving the company [10][12] - The competitive landscape is intensifying, with rivals like Samsung and Huawei advancing in foldable technology and AI capabilities [12][14] - Apple's delayed entry into the foldable smartphone market and perceived conservatism in AI development may hinder its competitive edge [14][15] Market Performance - Apple's stock price has recently declined from $270 to $259, reflecting investor concerns over leadership changes and future growth prospects [18][21] - The board's strategy to retain talent through stable compensation may not be sufficient to reassure investors about Ternus's ability to replicate Cook's success [18][21] Future Outlook - The upcoming launch of the foldable iPhone in 2026 is seen as a critical moment for Apple's future direction under Ternus [22] - Ternus's past involvement in foldable technology could lead to a resurgence in Apple's hardware innovation, but a cautious approach may limit aggressive growth [22] - The transition from Cook to Ternus is viewed as a pivotal moment, with the potential for both stability and stagnation depending on Ternus's leadership style [22]