Apple (AAPL) Stock Nears $5 Trillion as John Ternus Takes Over as CEO
TLDR
- John Ternus becomes Apple CEO on September 1, succeeding Tim Cook, who moves to executive chairman after 15 years leading the company.
- Apple stock closed at $319.70, with the company’s market cap approaching $5 trillion after a 40% gain over the past 12 months.
- Ternus faces his first product launch on September 9, expected to include a foldable iPhone and a rebuilt Siri powered by Google’s Gemini AI.
- Bank of America analyst Wamsi Mohan maintained a Buy rating with a $380 price target ahead of the leadership change.
- Wall Street has a Moderate Buy consensus on AAPL, with an average price target of $338.99, implying about 6% upside.
Apple is entering a new era. John Ternus officially takes the CEO chair on September 1, and the clock is already ticking.
🇺🇸 Apple gets a new CEO tomorrow, and his first job is fixing the thing it somehow fell behind on: AI.
John Ternus takes over from Tim Cook after 25 years building Macs, iPhones and AirPods, going from hardware chief to running the whole $4.6 trillion machine.
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