AAPL gained 2,736% under Cook, but Ternus doesn't have to emulate him

Bloomberg carries a piece noting the astonishing gains made by Apple stockholders during the time when Tim Cook was CEO. The cumulative gain was 2,275% – or a total return of 2,736% when accounting for dividend payments also.

The site suggests this will make him a tough act to follow, but my own view is that new CEO John Ternus doesn’t have to emulate Cook’s management of the company …

There’s no disputing the numbers Bloomberg cites.

Cook inherited a company with a market capitalization of less than $350 billion and built the maker of iPhones and Mac computers into a diverse $4.6 trillion business that also sells watches, AirPods and financial services […] During his time as CEO, the shares climbed a whopping 2,736% on a total-return basis.

But my stance is that John Ternus shouldn’t for one moment worry about whether Apple will emulate this degree of financial success under his leadership – and there are two reasons for this.