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Incoming Apple (AAPL) CEO John Ternus will have a tall order to fill when he enters the same chief executive class as outgoing CEO Tim Cook.

And one clever new number compiled by Bank of America analyst Wamsi Mohan shows what Ternus is up against: $32 million.

According to Mohan's calculations, Apple's market cap has grown at a rate of roughly $32 million per hour, every hour, for nearly 15 years, for a total of $4.5 trillion under Cook.

Apple's market capitalization has climbed to $4.5 trillion from around $350 billion during Cook's time as CEO, according to Yahoo Finance AlphaSpace analysis.

"Tim Cook took Apple from a company driven by a small number of product cycles into an institution capable of producing growth, cash flow, customer loyalty, and innovation at enormous scale and SKU complexity," Mohan said.

On April 20, Apple ended an era when it announced that Cook would step down as CEO after nearly 15 years at the helm, handing the reins to Ternus, Apple's senior vice president of hardware engineering.

Ternus officially takes over on Sept. 1, ahead of key Apple product launches and the all-important holiday shopping period.

The date will mark only the second CEO transition in Apple's history since co-founder Steve Jobs handed the keys to the tech kingdom to Cook in August 2011, shortly before Jobs's death.

Cook, who joined Apple in 1998 as an executive vice president of worldwide sales and operations when the company was near bankruptcy, oversaw one of the greatest corporate transformations in the history of corporate America.

Revenue has nearly quadrupled under Cook's watch, climbing to over $400 billion annually, as he shepherded the launch of the Apple Watch, AirPods, and the Vision Pro headset. He also became an industry statesman and forged a solid working relationship with President Trump over Trump's two terms.

Cook said Ternus has "the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and honor" โ€” all traits the 51-year-old Ternus will need to ensure Apple is successful in the era of AI.

"Apple is already so large, profitable, and deeply embedded in its customers' lives that incremental excellence may no longer be enough to redefine the company," Mohan said. "Ternus's challenge will be to preserve the profitable machine Cook built while restoring a stronger sense of technological surprise."

Brian Sozzi is Yahoo Finance's Executive Editor, host of the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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