Ternus Takes the Helm: Apple Stock Rises as Foldable iPhone Looms

Apple's stock price rose nearly 2% on Tuesday, closing at $322.59. This increase comes as John Ternus takes over as CEO of the company, replacing Tim Cook who has transitioned to Executive Chairman of the Board. The update was reflected on Apple's official website.

The new CEO's first major product launch is expected to be a significant one, with the company planning to unveil its first foldable iPhone. This represents a major design change for the iPhone, which has remained largely unchanged since its debut nearly two decades ago. In addition to the foldable iPhone, Apple will also release the iPhone 18 Pro and Pro Max, featuring faster chips, improved battery life, and enhanced camera capabilities.

The event is set to take place at Apple's Cupertino headquarters on September 9, starting at 10:00 a.m. Pacific Time. This marks a new era for Apple under Ternus' leadership, and investors are eager to see how the company will continue to innovate and adapt in the rapidly evolving tech industry.