AAPL Rebounds to $326 as Ternus Takes Over, But Challenges Linger

Apple's stock has regained momentum, rising to $326 on Tuesday and putting it back on track for its late-July all-time high of $344. The move comes as John Ternus officially takes over as CEO from Tim Cook, who held the position for 15 years.

Ternus brings 25 years of experience to the role, having previously served as senior vice president of hardware engineering and overseeing development work on major products including the iPad, AirPods, and Apple Watch. Despite the leadership transition, investors seem relatively comfortable with Ternus's appointment.

However, there are still challenges ahead for Apple. The company is facing slowing services growth, China weakness, and elevated expectations. Slowing App Store performance is a particular concern, with Morgan Stanley analysts predicting only 0.5% year-over-year revenue growth in the calendar third quarter, down from a previous forecast of 1%. This could reduce Morgan Stanley's September-quarter Services revenue estimate by $45 million.