Ternus Takes Reins at Apple Amid Growing AI Pressure

John Ternus took over as Apple's CEO on September 1, ending Tim Cook's 15-year tenure at the helm. The company's stock price was trading around $316.85, down approximately 0.9 percent from the previous close.

The leadership transition has been in the works since April, when Apple announced that Cook would become executive chairman and Ternus would take over as CEO. This allowed for a smooth handover and gave investors time to prepare for the change.

Ternus inherits a company with an extraordinary financial strength, valued at $4.6 trillion. Under Cook's leadership, Apple's stock price increased more than 2,200 percent, and the company expanded beyond its dependence on the iPhone by building a vast services business and strengthening its ecosystem of wearables, subscriptions, and digital products.

However, Apple faces growing questions about where its next major wave of growth will come from. The company must convince investors that it can lead through the next technological transition, which is Artificial Intelligence (AI).