A historic moment for the tech giant: Tim Cook has officially stepped down as CEO of Apple, handing the reins to John Ternus. This is not just a change of signage—we are witnessing the end of an entire era that lasted nearly 15 years. Cook will remain on the board of directors as executive chairman, but operational management passes to a company veteran with 25 years of experience, hailing from the hardware development sector.
The personnel reshuffle has also affected other key figures. Phil Schiller, the legendary marketer and one of the architects of Apple's success, has relinquished control over the App Store and the organization of product presentations. These areas are now overseen by services chief Eddy Cue and communications director Kristin Hugue Quayle. Schiller retains the title of Apple Fellow, but internally this is perceived as preparation for his complete departure. Ternus faces a challenging task—building a new team culture and compensating for the loss of experienced specialists.
The main challenge is not AI, but the iPhone
Contrary to expectations, the new CEO's key task does not lie in the realm of artificial intelligence, where Apple noticeably lags behind competitors. As industry analysts emphasize, Ternus's primary mission is maintaining iPhone sales. This is the foundation on which the entire empire rests.
The numbers speak for themselves: in the last quarter, iPhone revenue grew by an impressive 21%, which over the past year has lifted AAPL shares by 37%. However, Ternus will have to walk a tightrope: rising memory chip prices are creating serious pressure on margins. Maintaining profitability while keeping prices competitive—that is the real test for the new leadership.
For the future, Ternus is making two key bets: a foldable iPhone and an updated Siri voice assistant based on the Gemini model. In this way, he is trying to prove to the market that Apple is still capable of technological breakthroughs and can close the gap in the artificial intelligence race.
Market reaction and prospects
On Monday, AAPL shares dipped to $313, but partially recovered by evening, trading at $316.85—0.89% below Friday's close ($319.70). Investors on social media noted a spike in volatility at the moment of the power transition. Despite the current correction, the company's shares have gained about 37% over the year, although they have yet to reach the historical high set in July, when market capitalization came close to $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 foldable iPhone is expected to be announced. This will be the first serious exam for the new captain of the ship.
My analysis: The market is currently maintaining cautious optimism, and this is justified. Ternus is a man from Apple's "hardware" school, and his success will depend not on flashy AI initiatives, but on the ability to sustain operational efficiency amid rising costs. Investors should closely watch the September presentation—that is where it will become clear whether the bet on foldable devices and the Google Gemini partnership is a strategic gambit or a forced measure in the struggle for survival in the new technological reality.