Apple's Cook to Become Executive Chairman, Ternus Named CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 11 hours ago
0mins
Should l Buy AAPL?
Apple announced that Tim Cook will become executive chairman of Apple's board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple's next chief executive officer effective on September 1, 2026. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process. Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world. "It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world," said Cook. "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman." Arthur Levinson, who has been Apple's non-executive chairman for the past 15 years, will become its lead independent director on September 1, 2026. Ternus will join the board of directors, also effective September 1, 2026.
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Analyst Views on AAPL
Wall Street analysts forecast AAPL stock price to rise
27 Analyst Rating
17 Buy
9 Hold
1 Sell
Moderate Buy
Current: 270.230
Low
239.00
Averages
306.89
High
350.00
Current: 270.230
Low
239.00
Averages
306.89
High
350.00
About AAPL
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories. Its software platforms include iOS, iPadOS, macOS, watchOS, visionOS, and tvOS. Its services include advertising, AppleCare, cloud services, digital content and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Enhanced Multi-Tasking: The new Siri version is anticipated to better handle multiple commands, support external AI agents, and effectively utilize personal data and on-screen content to answer queries, increasing the assistant's utility.
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See More
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- Market Performance: Under Cook's leadership, Apple's market cap has grown over 20 times, and Ternus will face significant challenges in continuing to drive innovation and market expansion to maintain the company's leadership position in the global tech industry.
- Geopolitical Impact: Concurrently, global markets are experiencing volatility due to geopolitical tensions, particularly between the U.S. and Iran, which could indirectly affect Apple's international business, especially regarding supply chains and market demand.
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See More
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- Strategic Technological Shift: EssilorLuxottica is expanding into the medical technology sector with products like Nuance Audio glasses, which feature built-in hearing aids, demonstrating the company's strategy to enhance competitiveness through technology-intensive products to mitigate future competition from China.
See More
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- AI Strategic Shift: Ternus takes over at a critical time as Apple faces significant challenges in the AI sector, with Cook's transition seen as a key moment for the company's renewed focus on AI strategy, potentially impacting future product innovations.
- Financial Achievements: Under Cook's leadership, Apple's market value soared from $350 billion to $4 trillion, making it the first company to surpass a $3 trillion valuation, showcasing his exceptional financial management skills.
- Supply Chain Management: Cook successfully optimized Apple's international supply chain, particularly during the US-China trade war, by shifting some production to India, ensuring Apple's competitiveness and stability in the global market.
See More
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- CEO Transition: Apple announced that Tim Cook will step down as CEO on September 1, with John Ternus taking over; Ternus, who has been with the company for 25 years, faces significant challenges in advancing the company's AI strategy.
- Strong iPhone Sales: In the latest quarter, Apple's iPhone revenue surged 23% year-over-year to $85.3 billion, primarily driven by robust sales of the iPhone 17 models, indicating strong consumer demand for new products.
- Lagging AI Strategy: Despite Apple's relatively conservative investment in AI, relying on Google's Gemini to enhance Siri features, the market's demand for AI-integrated hardware is growing, and Ternus must accelerate the application of AI technologies.
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