New Apple CEO John Ternus Inherits AI Test as AAPL Stock Slips

John Ternus becomes Apple's chief executive on Tuesday as AAPL stock fell slightly. Marketing veteran Phil Schiller also stepped back from his last major roles this week.

Ternus, a 25-year Apple veteran, replaces Tim Cook, who becomes executive chairman after 15 years as CEO. The transition puts artificial intelligence at the center of Ternus's agenda.

A Reshuffled Leadership Team

Schiller, 66, gave up oversight of the App Store and Apple's product events. Those duties now sit with services chief Eddy Cue and communications head Kristin Huguet Quayle.

Schiller keeps his Apple Fellow title, but colleagues see the move as a step toward retirement. It adds to a broader wave of veteran departures Ternus must manage as he rebuilds Apple's leadership bench.

Selling iPhones Comes First

Big Technology founder Alex Kantrowitz told CNBC's Closing Bell that Ternus's most immediate job has nothing to do with artificial intelligence.

Number one is sell iPhones. He's got to sell iPhones.

Alex Kantrowitz, CNBC

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