Apple’s planned leadership transition is the dominant factor shaping trader views on the “Which CEOs will be out before 2027?” market. Tim Cook’s announced departure as CEO effective September 1, 2026, with hardware engineering head John Ternus succeeding him, has pushed implied odds for that outcome to certainty while reflecting Apple’s need to accelerate AI hardware and services growth. Broader industry dynamics reinforce elevated turnover expectations, with record CEO exits in 2025–2026 driven by boards seeking fresh leadership to navigate rapid artificial-intelligence integration across platforms and business models. Notable recent shifts at Spotify, Adobe, Disney, and Walmart illustrate the pattern of experienced executives stepping aside as AI transformation timelines compress. Key upcoming catalysts include earnings calls, developer conferences, and any further succession announcements at large-cap tech firms that could alter remaining probabilities before year-end resolution.