Ternus Takes the Helm as Apple Faces Memory Crunch and AI Ambitions

John Ternus, Apple's new CEO, inherits a massive responsibility as he takes over from Tim Cook. The company's stock is valued at $4.7 trillion, and its strategy in artificial intelligence has yet to be fully executed. In an interview with CNBC last year, Ternus highlighted the importance of custom chips, device battery life, and memory architecture.

Ternus' job gets bigger on Tuesday as he succeeds Cook, who is stepping into the role of executive chairman. This transition will be 'thoughtful' and 'smooth,' according to Apple representatives. Ternus has said that he will carry on Apple's 'values and vision.'

The new CEO faces several challenges, including a global memory crisis that's forcing Apple to increase prices on consumer gadgets. Americans are struggling with stubborn inflation, making this decision even more difficult for the company.

Ternus will have an opportunity to prove himself at Apple's annual launch event on September 9, where new iPhones and Apple Watches are expected to be unveiled. Cook used to take the stage for every major product launch, which garners headlines and millions of viewers worldwide.