Apple's New CEO Takes the Helm as Launch Event Looms
Apple's new CEO, John Ternus, takes over at a company that has dominated the smartphone market for years. The iPhone continues to hold the top spot worldwide quarter after quarter, generating record earnings and recurring revenue through services.
The stock price has dipped recently due to Apple's cautious outlook amid supply constraints and higher memory chip costs. However, growth is far from over for this tech giant.
On September 9, Apple will hold a launch event where analysts predict the unveiling of new iPhones and the much-anticipated foldable phone, as well as Apple Watches. Historically, three out of five times, the stock has advanced in the month following Apple's September launches.
A look at past data shows that investing prior to the launch event may benefit from near-term gains if history is right. However, a stock's long-term potential is what truly matters, and Apple's strength to weather current challenges bodes well for its prospects under Ternus' leadership.