Legendary Tim Cook, who led Apple for nearly 15 years, has handed the reins to John Ternus. This is not just a change of leadership—it is a change of a strategic era. Against the backdrop of the news, AAPL shares dipped slightly, and the market froze in anticipation: can the "hardware" veteran with 25 years of experience take the company to a new phase of growth?
Cook is not leaving the ship entirely—he becomes executive chairman of the board of directors. However, operational control passes to Ternus, a veteran of the hardware development sector. In parallel, another significant shift is taking place: Phil Schiller, another Apple veteran, steps down as head of the App Store and organizer of product presentations. His duties will be split between Eddy Cue and Kristin Huguet Quayle. Behind the scenes, this is seen as preparation for Schiller's full retirement.
The personnel restructuring sets a challenging task for Ternus—building a new team culture and compensating for the departure of experienced specialists. But the main challenge, according to analysts, lies elsewhere.
The main bet—iPhone sales
Contrary to expectations, the new CEO's top priority is not directly related to artificial intelligence. As Big Technology founder Alex Kantrowitz rightly noted on CNBC: "First and foremost, he needs to sell iPhones. He has to sell iPhones." This is not a downplaying of AI's role, but a sober look at business reality: it is the iPhone that remains the primary revenue generator.
Recall that last quarter, iPhone sales revenue grew by 21%, which lifted Apple's stock by 37% over the year. However, Ternus will have to maintain margins amid rising memory chip costs. His strategy is a bet on the foldable iPhone and an updated Siri based on the Gemini model. In doing so, he is trying to prove that Apple is still capable of technological breakthroughs and can close the gap in the artificial intelligence race.
Market and prospects
On Monday, AAPL shares fell to $313 but partially recovered by evening, trading around $316.85—0.89% below Friday's close ($319.70). Investors on social media noted a spike in volatility at the moment of the leadership transition. Despite the dip, Apple's stock has gained about 37% over the year, though it has yet to reach the all-time high set in July as market capitalization approached $5 trillion.
The key test for Ternus is the September 9 presentation, where the foldable iPhone is expected to debut. This will not just be a demonstration of a new product, but an answer to the question: can Apple turn its engineering power into a real breakthrough in the AI market?
My take: The market often overestimates the significance of a CEO change, but here the stakes are truly high. Ternus is a "hardware guy" at heart, and his success will depend on whether he can combine Apple's hardware mastery with the software aggression needed to compete with OpenAI and Google. The foldable iPhone is a good start, but the AI race requires bolder moves. If Apple does not accelerate, even its massive market cap will not protect it from erosion of market share.