Apple's New CEO Ternus Inherited AI Focus and a Slipping Stock

Apple's new CEO John Ternus took the reins on Tuesday, inheriting an Apple stock that had slipped slightly. Phil Schiller, a marketing veteran, stepped back from his major roles this week, with Eddy Cue and Kristin Huguet Quayle taking over oversight of the App Store and product events.

Ternus, a 25-year Apple veteran, replaces Tim Cook, who becomes executive chairman after 15 years as CEO. The transition puts artificial intelligence at the center of Ternus's agenda, with Apple set to unveil a revamped Siri assistant built on Google's Gemini model.

However, Alex Kantrowitz, founder of Big Technology, believes that Ternus's most immediate task is selling iPhones, with 21% iPhone revenue growth last quarter driving Apple's 37% stock gain over the past year. Rising memory chip costs also pose a margin risk for the company.