John Ternus was named Apple's next CEO in April 2026.Bloomberg/Getty ImagesApple is entering a new era as it names John Ternus its next CEO.The iPhone maker has hit milestones like a $4 trillion market cap and lows like regulatory troubles.Here's a look at how Apple has evolved, in photos, since its founding 50 years ago. Apple is entering a new era: one to be shaped by John Ternus.The hardware engineering exec is set to become Apple's new CEO in September.The tech giant, which celebrated its 50th anniversary in April, is one of the world's most valuable companies, known for innovative products like the iMac, iPhone, and iPod.

Its storied past is one of incredible highs, including a $4 trillion market cap, and alarming lows, like its series of stumbles in the 1990s.It's had many leaders over the years — most notably Steve Jobs, who put the company on the map with his lofty ideas and unique leadership style. After Jobs stepped down from the position to focus on his health, Tim Cook took over as CEO and has guided the company through much success and turbulent times.Cook's tenure has launched new products like the Apple Watch, Vision Pro, and AirPods. The company has also launched its own artificial intelligence software, Apple Intelligence.As Apple's next CEO, Ternus will be tasked with solidifying the tech giant as a leader in AI.Here's a look at Apple's history in photos, from its inception through its hard times to the triumphant return of Jobs and beyond.Matt Weinberger, Aaron Mok, and Avery Hartmans contributed to earlier versions of this story.Apple was cofounded on April 1, 1976, by Steve Jobs and Steve Wozniak in Los Altos, California.Kimberly White/ReutersApple's first "office" was the garage at Jobs' parents' house.

There was a third cofounder, too: Ronald Wayne. Jobs brought Wayne on board to provide business guidance for the two young cofounders.Wayne sketched the first Apple logo by hand.The cofounder left the company before it was officially incorporated. He took an $800 check for his shares in the company.

Apple would officially incorporate in 1977.The company's first product was the Apple I.An Apple-1 computer, built in 1976, is displayed during the First Bytes: Iconic Technology From the Twentieth Century, an online auction featuring vintage tech products at the Computer History Museum on June 24, 2013 in Mountain View, California.Justin Sullivan/Getty ImagesIt was just a motherboard with a processor and some memory, intended for hobbyists. Customers had to build their own case and add their own keyboard and monitor, as seen in the picture above.The Apple I was invented by Wozniak, who also hand-built every kit.Meanwhile, Jobs handled the business end, mainly trying to convince would-be investors that the personal computer market was primed to explode.The Apple II was introduced in 1977.Eric Risberg/APThe personal computer was designed by Wozniak, and it would go on to take the world by storm.

The Apple II's killer app was VisiCalc, a groundbreaking spreadsheet software that propelled the computer ahead of market leaders Tandy and Commodore, according to the National Museum of American History.With VisiCalc, Apple could sell the Apple II to the business customer. By 1978, Apple would actually have a real office, with employees and an Apple II production line.Xerox PARC convinced Jobs that the future of computing was with a graphical user interface (GUI).Steve Jobs with the Lisa computer in 1983.Ted Thai/The LIFE Picture Collection/Getty ImagesIn 1979, Apple engineers were allowed to visit the Xerox PARC campus for three days, in exchange for the option to buy 100,000 shares of Apple for $10 a share, according to Newsweek.A year later, Apple released the Apple III, a business-focused computer intended to counter the growing threat from IBM and Microsoft.But the Apple III was only a stopgap, and Xerox PARC had led the young Jobs to think in a different direction.Jobs spearheaded the effort to equip Apple's next-generation Lisa computer with a GUI, but was bumped from the project thanks to infighting.Lisa was released in 1983 to much fanfare, but disastrous sales — it was too expensive and didn't have enough software support, CNBC reported.Jobs led the next project, the Apple Macintosh.Steve Jobs, chairman of the board of Apple Computer, leans on the new Macintosh personal computer following a shareholder's meeting in Cupertino, Ca.

Apple Inc. on Wednesday, Aug. 24, 2011 said Jobs is resigning as CEO, effective immediately. He will be replaced by Tim Cook, who was the company's chief operating officer. It said Jobs has been elected as Apple's chairman.AP Photo/Paul SakumaIt was billed as the most user-friendly computer to date. It would go on to become popular with graphic-design professionals, who liked its visual chops (even though it was in black and white).It was still very expensive, however.Around the time of the launch of the first Macintosh in 1983, Apple got a new CEO: John Sculley.Scu