Apple Stock Hits Record High Under New CEO John Ternus
On September 23, Apple stock reached an intraday high of $345.34 and closed at $339.75, marking a new record since the company's transition to its first new CEO in over fifteen years—John Ternus. The market has responded positively to his leadership so far, with shares up 25% for the year and Apple’s market cap nearing $5 trillion. Ternus took office on September 1 after joining Apple in 2001 as a product designer before rising through the ranks. His first major move was launching the iPhone Duo foldable phone at an event on September 9, which analysts believe has contributed to investor confidence. The device is priced between $1,999 and $3,199, setting new revenue expectations for Apple’s premium hardware segment. The iPhone 18 lineup launched globally on September 19 with strong early demand despite a price increase of $100 per model. Analysts note that while supply constraints may be affecting initial sales data, genuine consumer interest appears to remain robust.
Tickers: $AAPL
Topics: Apple stock CEO transition market cap stock price record