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Tim Cook's final day as Apple CEO was August 31, 2026. He posted on X that his title changes the next day but his love for the Apple community never will, thanking the community for being a constant source of inspiration. Cook steps down September 1 and becomes chairman of the board. John Ternus, senior vice president of hardware engineering, succeeds him as CEO.
Apple CEO Tim Cook stated in a June 17 Wall Street Journal interview that price increases for the company's products are unavoidable, citing surging costs for memory and storage driven by AI demand. Cook said high-bandwidth memory for AI servers is being prioritized, reducing supply for consumer devices and pushing up prices. He noted that while Apple has tried to protect customers, the situation has become unsustainable. Cook did not disclose the timing, specific products affected, or the amount of the increases. Multiple outlets reported that upcoming Macs, iPhones, and iPads are likely to see price hikes. The Wall Street Journal also published a separate analysis estimating that the next iPhone 18 Pro could cost $200 more than the current iPhone 17 Pro, based on rising component costs for memory and storage. Cook pointed out that memory prices and supply for consumer products need to return to reasonable levels. The announcement is unusual for Apple, which typically does not publicly signal price increases in advance.