Overview
- John Ternus, who takes over as CEO on September 1, made his first public remarks during Apple’s Q2 2026 earnings call Thursday and vowed to keep Tim Cook’s hallmark financial discipline with CFO Kevan Parekh while calling Apple’s product roadmap “incredible.”
- Apple posted a record March quarter with $111.2 billion in revenue, up 17% year over year, as iPhone sales rose about 22%, and shares climbed after Parekh guided for 14% to 17% growth in the current quarter.
- Tim Cook said the timing of the handover reflected strong performance, a robust pipeline, and Ternus’s readiness, and he will become executive chairman to support a staged transition.
- Executives flagged pressures from higher memory costs, supply constraints, and geopolitical risks, with Cook noting the impact on margins and warning that AI-driven demand for Macs could keep supplies tight into the June quarter.
- Apple faces questions about its generative-AI strategy, with WWDC in June set for updates, as Cook called AI a top priority and reiterated that a more personalized Siri is due later this year.