Apple will have a new chief executive in September, after 15 years with Tim Cook at the helm. He is passing the baton while the company is at a financial high, after another quarter of strong sales. Apple on Thursday reported that revenue rose 16% from a year earlier to $109.42 billion.

nyti.msApple’s Profit Increases 27 Percent, Topping Wall Street ExpectationsThe company recently raised prices on a number of products because of component supply shortages caused by the artificial intelligence boom.