Apple Set for Big Product Event as Ternus Takes Reins

Apple has scheduled its product event for September 9, where it is expected to unveil the latest series of iPhones and possibly Apple's first foldable device. This marks a significant moment in the company's history as Tim Cook will become Executive Chair on September 1, while John Ternus takes over as CEO.

The Q3 results showed a strong revenue increase of 16% to $109.4 billion, with diluted EPS rising by 29% to $2.02. However, the gross margin beat may have been influenced by tariff refunds worth around two percentage points, which could also account for about $0.11 in EPS.

The new Mac series has been optimized for local AI tasks, with the M6 chip built on a 2nm process providing faster on-device silicon. This allows Apple to offer private inference tools and applications locally, creating another potential revenue channel.