Ternus Era Begins with Apple Stock Drop Amid Leadership Transition

Apple's stock fell 2.17% on Friday to $321.09, marking its first drop since John Ternus took over as CEO on September 1.

The decline came as investors weighed in on the company's leadership transition and upcoming hardware event, which is expected to feature new iPhone 18 Pro models and a possible foldable iPhone.

Ternus, who replaced Tim Cook at the top of the iPhone maker, has been Apple's senior vice president of hardware engineering since 2011.

Cook, however, remains executive chairman of the board and will assist with certain aspects of the company, including engaging with policymakers around the world.