Apple (AAPL) Stock: What to Know as John Ternus Takes the CEO Role
TLDR
- AAPL stock rose 3% on September 1 as John Ternus officially became Apple’s new CEO
- Ternus replaces Tim Cook, who led Apple for 15 years
- On day one, Ternus sent an internal message to staff focused on Apple’s product launch scheduled for September 9
- Veteran tech investor Gene Munster says Ternus’ first priority should be reversing Apple’s “brain drain” to AI startups like OpenAI
- AAPL carries a Moderate Buy consensus rating with an average price target of $330.82
Apple (AAPL) stock climbed 3% on September 1 as John Ternus officially stepped into the CEO role, taking over from Tim Cook after 15 years at the helm.
Ternus, 51, is a 25-year Apple veteran. He joined the company’s product design team in 2001 straight out of college, holding a mechanical engineering degree from the University of Pennsylvania.
He was promoted to vice president of hardware engineering by 2013, and then to senior vice president in 2021. He was the youngest candidate considered to replace Cook.
On his first day, Ternus sent a company-wide message that kept things focused. “We have a huge launch next week that’s going to be phenomenal. Thanks for everything you’ve all done to make it possible,” he wrote, pointing to Apple’s annual product event set for September 9.
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