Apple Stock Surges to Record High Under New CEO Ternus

Apple stock reached an all-time high of $345 per share on Tuesday, just over a month after John Ternus took over as chief executive. The milestone marks the latest in a string of successes for the company under Ternus' leadership, including the recent launch of its iPhone 18 lineup and preview of its first foldable phone, the iPhone Duo.

The iPhone 18 lineup has been particularly well-received by analysts, with improved batteries and cameras contributing to higher sales. Evercore ISI analyst Amit Daryanani noted that while supply constraints are likely playing a role, demand for the new phones is holding up well through the first week of the cycle.

The iPhone Duo, priced at $1,999 for the base model and over $3,100 for the higher-spec version, is set to be released in late October. Whether buyers can find the device in stores this year remains uncertain due to initial supply constraints.