This has been a year defined by two trends: the artificial intelligence (AI) data center build-out and major transitions. Concerning the latter, we've watched Kevin Warsh be sworn in as the new head of the Federal Reserve, and witnessed the respective retirement of Berkshire Hathaway's (NYSE:BRKA)(NYSE:BRKB) Warren Buffett on Dec. 31 and Apple's (NASDAQ:AAPL) Tim Cook as CEO on Sept. 1. Both remain executive chairs of their respective boards. Over the roughly 15 years Cook held the reins at Apple, his company's shares appreciated by approximately 2,720% (including dividends), representing a nearly 2,000-percentage-point outperformance of the benchmark S&P 500 (SNPINDEX:^GSPC).
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