Stocks
Ternus Takes Reins as Apple's Stock Surges Amid Product Launch Hype
Apple's stock price surged 2.6% on Tuesday as John Ternus officially took over as CEO, succeeding Tim Cook who transitioned to executive chairman.
Cook's leadership, spanning 15 years, saw Apple's valuation soar from $350 billion to more than $4.5 trillion. The company has scheduled a significant product unveiling for September 9, which is expected to feature the iPhone 18 series and potentially its first foldable device.
Ternus, who brings 25 years of Apple experience to the role, was previously senior vice president of hardware engineering. His portfolio included directing engineering efforts for flagship products such as the iPad, AirPods, and Apple Watch.