Ternus Takes Reins at Apple as Shares Rise 2.7% on Leadership Change

John Ternus officially took over as Apple's new CEO on an auspicious day for the tech giant. The shares rose 2.7% following his appointment, outperforming the broader tech sector which was under pressure from rising Treasury yields.

Ternus, who was previously senior vice president of hardware engineering, praised Tim Cook's leadership and expressed excitement about upcoming product launches and innovations. He will make a public debut at the iPhone 18 Pro launch on September 9.

Analysts expect Ternus to restore Apple's technological edge, and his challenge is being met with optimism about the company's strong core business performance. The introduction of AI-driven products is seen as a key driver of growth.