Apple Stock Rises on Ternus' First Day as CEO

Apple stock is rising on Tuesday following the official handover of CEO duties from Tim Cook to John Ternus, who led Apple's hardware teams for years.

The change in leadership comes just days before Apple's September 9 event, where the company will unveil its iPhone 18 lineup, with investors eager to see how Ternus will deliver in his first major product cycle as CEO.

Rosenblatt Securities analyst Barton Crockett raised his price target on Apple to $303 from $300 while keeping a Hold rating, citing higher-priced models and new products as key drivers of sales.