Overview
- John Ternus officially became Apple’s CEO on Sept. 1, taking over daily leadership while Tim Cook moves to the newly created role of executive chairman.
- On his first day as CEO Ternus told staff in a memo that the company has a “huge launch next week that’s going to be phenomenal,” a comment reporters linked to Apple’s Sept. 9 product event and first public test of his leadership.
- Apple issued September-quarter guidance projecting 9%–11% revenue growth, a range below some analysts’ expectations, and the stock fell more than 6% in after‑hours trading following the update.
- Cook warned on the company’s recent calls that a “100‑year flood” in memory‑chip prices driven by AI data‑center demand is forcing parts price increases and squeezing Apple’s gross margins.
- Cook’s 15‑year tenure built Apple into a roughly $4.6 trillion company and leaves Ternus a hardware-focused leader with pressure to speed Apple’s AI work, preserve supply‑chain strength, and deliver striking products that restore momentum.