Overview
- Apple’s next chief, John Ternus, made his first public remarks on Thursday’s Q2 2026 earnings call, praising an “incredible” product roadmap and vowing to keep tight financial discipline when he takes over on September 1.
- Apple reported $111.2 billion in revenue for the quarter, up 17% year over year, with iPhone sales rising 22% and what Tim Cook called the company’s best March quarter.
- Shares barely moved during remarks from Cook and Ternus, then climbed about 3%–4% after CFO Kevan Parekh forecast stronger-than-expected revenue and iPhone growth of 14%–17% for the current quarter.
- Cook said the timing of his move to executive chairman reflects strong performance, a robust pipeline, and Ternus’s readiness, and he advised his successor to focus his time where it most benefits users and to keep Apple’s “North Star” on building products that improve lives.
- Ternus inherits active challenges that Apple flagged, including supply constraints, sharply higher memory costs that pressured margins, and growing expectations for AI features, with WWDC in June set to showcase new AI work and Mac demand already straining supply.