Apple · Wired
Tim Cook’s tenure as CEO at Apple, which is coming to a close September 1
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But his most significant achievement might be in doubling down on Apple’s services business, which includes iCloud, the App Store, Apple Music, Apple TV+, News+, and more.
Key facts
- For the entirety of fiscal year 2025, Apple services generated more than $109 billion for Apple, again, up 14 percent from 2024
- During Apple’s most recent earnings report, for the quarter ending December 2025, its services business reached an all-time revenue record of $30 billion
- When Cook first took over as CEO in 2011, “services” weren’t even broken out into a separate revenue category, although, for proxy, iTunes was generating around $6 billion annually
- The App Store launched in 2008, the year after Steve Jobs unveiled the iPhone, and it was Jobs’ foresight to charge up to a 30 percent “tax” on paid apps and in-app purchases
Summary
Tim Cook’s tenure as CEO at Apple, which is coming to a close September 1, will likely be defined by operational efficiency and financial growth, ushering Apple into its trillion-dollar era. During Apple’s most recent earnings report, for the quarter ending December 2025, its services business reached an all-time revenue record of $30 billion. When Cook first took over as CEO in 2011, “services” weren’t even broken out into a separate revenue category, although, for proxy, iTunes was generating around $6 billion annually. As the analyst Ben Thompson points out, some of the foundation-laying work for Apple’s services predated Cook’s term as CEO.