Apple Shares Rise as John Ternus Becomes CEO
Apple Inc (NASDAQ:AAPL, XETRA:APC) shares rose by 2.7% on September 1, marking the beginning of John Ternus's tenure as chief executive officer. Tim Cook will transition to an executive chairman role after leading Apple for nearly 15 years and growing its market capitalization to approximately $4.5 trillion. In a message to employees, Ternus expressed gratitude toward Cook while highlighting upcoming product launches and future innovations. Bank of America analysts noted that the real challenge for Ternus will be reinvigorating technological surprise at Apple as it shifts from cloud-based services to AI-driven devices. The bank expects core business operations like capital returns and leadership in edge computing AI to remain stable, while new areas such as wearables, smart home automation, and robotics could drive future growth. Ternus has already begun reshaping the company's structure with layoffs in certain departments and bringing back key personnel like Laura Legros. His first public appearance is scheduled for Apple’s iPhone 18 Pro launch on September 9.
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