Apple Shares Slip Amid Ternus Era as Rivals Gain Ground in AI Market

Apple's stock price declined by approximately 0.9% to $316.85 on Tuesday as John Ternus took over as CEO from Tim Cook, who stepped down after a 15-year tenure.

The transition was widely anticipated, with Apple announcing in April that Cook would move into the role of executive chairman and Ternus would become CEO effective September 1.

Ternus inherits a company valued at $4.6 trillion, which has grown significantly during Cook's leadership, with its stock price increasing more than 2,200% since 2011.

Apple faces challenges in the rapidly developing AI market, where rivals such as Alphabet and Microsoft have made significant strides.