Apple CEO Tim Cook is stepping down

Tim Cook is stepping down as CEO of Apple. In nearly 15 years as chief executive, Cook turned Apple into a global powerhouse, building on the legacy of his legendary predecessor Steve Jobs.Why it matters: Cook, who oversaw the launch of the Apple Watch and AirPods, will be replaced by hardware expert John Ternus.The big picture: Apple is one of the most valuable companies in the world.Driving the news: Cook will become executive chairman of Apple on Sept. 1, the company said Monday.Ternus, senio...