Business

Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company's market value soar by more than $3.6 trillion US during an iPhone-fuelled era of prosperity.

Cook ending nearly 15-year reign that saw the company's market value soar

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Apple announced Monday that Tim Cook is stepping down from his role as CEO. (Markus Schreiber/The Associated Press)

Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company's market value soar by more than $3.6 trillion US during an iPhone-fuelled era of prosperity.

Cook, 65, will turn the CEO duties to Apple's head of hardware engineering, John Ternus, on Sept.…