A historic transition at Apple has taken place: Tim Cook has stepped down as CEO, handing the reins to John Ternus, a 25-year company veteran. Against the backdrop of this reshuffle, AAPL shares dipped slightly, and the market is holding its breath—wondering whether the new leader can live up to the tech giant's ambitions. Also in the shadows is the departure of Phil Schiller, the legendary marketer who shaped Apple's product image for decades.
Cook led the company for nearly 15 years, and he now moves to the position of executive chairman of the board. His successor, Ternus, comes from the hardware development sector, which immediately raised questions about the strategic direction. The main challenge for the new CEO is obvious—artificial intelligence, where Apple is conspicuously lagging behind competitors, and this is exactly where not just managerial but engineering solutions will be required.
Personnel changes and the new team
Phil Schiller, another pillar of the corporation, has relinquished control over the App Store and the organization of product presentations. These areas now fall under the management of services chief Eddy Cue and communications director Kristin Huguet Quayle. Schiller retains the title of Apple Fellow, but internally this move is seen as preparation for his full retirement. Such personnel changes present Ternus with a challenging task: he must build a new team culture and compensate for the loss of experienced specialists who have been the face of the brand for decades.
Top priority—iPhone sales
Alex Kantrowitz, founder of Big Technology, was blunt on CNBC: "First and foremost, he needs to sell iPhones. He has to sell iPhones." And this is not just rhetoric. Last quarter, iPhone revenue grew by 21%, which over the past year has lifted Apple's stock by 37%. However, Kantrowitz also pointed to a margin risk—memory chips are getting more expensive, and Ternus will have to balance between price and demand.
For the future, the new chief is making two bets: a foldable iPhone and an upgraded Siri voice assistant based on the Gemini model. In this way, Ternus aims to prove that Apple is still capable of technological breakthroughs and can close the gap in the AI race.
Market reaction and forecasts
On Monday, AAPL shares fell to $313, but by evening partially recovered, trading at $316.85—0.89% below Friday's close ($319.70). Investors on social media platform X noted a spike in volatility at the moment of the power transition. Despite the dip, Apple shares have gained about 37% over the year, though they have yet to reach the all-time high set in July, when the market capitalization briefly approached $5 trillion.
Whether Ternus can turn Apple's engineering prowess into a breakthrough in the AI market will be shown at the September 9 presentation, where the company is expected to unveil the foldable iPhone.
My analysis: The market is pricing into AAPL not only current sales but also future AI potential. If Ternus does not demonstrate concrete steps to integrate AI into the ecosystem, rather than just partnerships with Google, the stock could face a correction. Investors should closely watch the September presentation—it is a key trigger for a reassessment of the entire company.