A.M. Edition for April 21. Apple CEO Tim Cook is stepping down and handing the baton to hardware chief John Ternus. While Cook’s tenure saw the company’s market cap explode to over $3 trillion, WSJ deputy tech editor Bradley Olson says investors will want to see how Ternus handles a late-game pivot to generative AI. Plus, the White House is weighing whether to bail out Spirit Airlines or risk an airline collapse that could spike already high summer travel prices. And how Joe Rogan convinced president Trump to fast-track the review of psychedelic drugs used to treat mental illness. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.