Apple’s new CEO, and why Elon Musk wants to buy Cursor for $60B

Apple's CEO Tim Cook will step down in September, with hardware chief John Ternus set to take over. This leadership change comes as Apple faces a shifting tech ecosystem. Elon Musk is reportedly interested in acquiring Cursor for $60 billion, signaling major moves in AI investments.

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PublishedFriday, April 24, 2026 at 7:45 PMApr 24, 07:45 PM

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Equity digs into what Apple's leadership transition means for startups and more of the week’s biggest deals, including SpaceX's $60B option on Cursor.

A new era is on the way for Apple as Tim Cook plans to step down from his CEO role in September, handing the reins to hardware chief John Ternus.

Ternus may be inheriting one of the most durable businesses in tech, but he’s also stepping into a very different ecosystem than the one Cook spent decades shaping. The App Store’s 30% cut is under pressure, the behind-the-scenes power Apple once held over developers is being challenged, and vibe-coded apps are changing what it means to build on Apple’s platform.

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Apple’s new CEO, and why Elon Musk wants to buy Cursor for $60B

Original article excerpt