A historic transition has taken place at Apple. Tim Cook, who led the company for nearly 15 years, has officially stepped down as CEO, making way for John Ternus. Cook will now focus on his role as executive chairman of the board, while Ternus, who has spent a quarter of a century at the corporation and risen through the hardware development sector, takes the reins during one of the most turbulent periods for the tech giant.
Leadership changes and new challenges
Along with Ternus's arrival, other significant reshuffles have occurred. Apple veteran and marketer Phil Schiller, who for years oversaw the App Store and the organization of product presentations, has relinquished these duties. He retains the status of Apple Fellow, but within the company this move is seen as preparation for his gradual departure. For Ternus, this means the need to build a new team culture and compensate for the loss of experienced specialists, adding complexity to an already difficult transformation.
The main bet — iPhone sales
However, the new CEO's top priority, paradoxically, lies not in the realm of artificial intelligence, but in a purely commercial sphere. Amid the leadership change, AAPL shares have dipped slightly, but the key challenge is sustaining growth. Last quarter, revenue from iPhone sales rose 21%, which lifted the company's shares by 37% over the past year. Ternus must preserve this driver while balancing on the edge of profitability, as the cost of memory chips continues to rise.
My analysis shows that the market has so far given a cautious assessment to this transition. Shares fell to $313 on Monday but partially recovered by evening, trading around $316.85 — roughly 0.89% below Friday's close. Investors are clearly registering heightened volatility at the moment of the power handover, yet there is still a long way to go before the all-time high set in July, when market capitalization nearly reached $5 trillion.
AI as the battlefield
Ternus is making two key bets on the future: a foldable iPhone and an updated Siri voice assistant based on the Gemini model. This is his way of proving that Apple has not lost its capacity for technological breakthroughs and can close the gap in artificial intelligence, where competitors have surged far ahead. The September 9 presentation will be the first major test for the new leader.
My expert opinion: Ternus inherits a company with a strong product portfolio, but his success will be determined not so much by technical innovation as by the ability to maintain premium margins amid rising costs and fierce competition. AI here is merely a tool, not an end in itself; the main battle will be for the consumer's wallet, and it is iPhone sales that will serve as the litmus test of his leadership.