Ternus Takes on $4.7 Trillion Challenge as Apple Event Looms

Apple Inc. shares rose 1.7% on Tuesday after John Ternus took over as CEO from Tim Cook, who transitioned to executive chairman. The September 9 Apple event marks the initial major product launch overseen by Ternus.

The company's revenue for the June quarter increased by 16% to $109.4 billion, and spending on research and development rose 32%, partly due to growth in AI infrastructure and staffing.

Ternus faces a significant challenge in advancing Apple's mission with the help of AI, according to Brian Mulberry at Zacks Investment Management, who described it as 'the single biggest challenge for Ternus'.