On September 1 (local time), Apple Inc. witnessed its most significant leadership transition in 15 years. Tim Cook, 65, stepped down as CEO to become executive chairman, while John Ternus, 51, succeeded him as the new CEO. Cook announced this arrangement months in advance, ensuring a seamless transition. During Cook's 15-year tenure at the helm, Apple's revenue surged from approximately $108 billion to $416 billion, its market capitalization soared from around $350 billion to over $4 trillion, and its global active device base exceeded 2.5 billion units, with cumulative shareholder dividends reaching $1 trillion. Cook transformed Apple, which relied on individual brilliance during the Jobs era, into a company driven by organizational capabilities. He completed the 'de-founderization' reform, built robust systems and supply chain capabilities, expanded into new product categories like Apple Watch and AirPods, and propelled services revenue past $100 billion while mastering the M-series chip technology foundation. However, the Cook era also left some regrets, such as the failure to launch a new product category on par with the iPhone, the cancellation of the Apple Car project, the inability of Vision Pro to capture the mass market, and slow progress in AI. This was primarily due to Apple's philosophy of pursuing product perfection, which struggled to align with the rapid iteration demands of AI. Successor Ternus brings extensive hardware R&D experience and will focus on products after taking over. He will need to adjust Apple's risk-reward calculus, place earlier bets in cutting-edge areas like AI, and tolerate product imperfections. The upcoming product launch event will serve as Ternus' first public test. Additionally, over the past 15 years, Apple has benefited from global division of labor, with China playing a central role. Despite fluctuations in U.S.-China relations, Cook maintained frequent high-level visits to China, engaging in philanthropy, education, and clean energy collaborations to sustain long-term corporate connections. Apple and China's manufacturing sector have mutually shaped each other, transcending a simple buyer-seller relationship. Cook's legacy lies in proving that a company built on genius can sustain greatness through institutional strength.