Ternus Takes the Reins at Apple Amid AI Ambitions and Foldable iPhone Launch

Apple's new CEO John Ternus is set to take over on Tuesday, but he'll have little time to settle into his new role before facing a series of immediate and longer-term challenges. Shares in AAPL are up 3.6% this month, following a 6.8% gain in July.

Ternus will rely heavily on COO Sabih Khan, CFO Kevan Parekh, and services chief Eddy Cue to help him navigate these challenges. The company's stock had plunged from an all-time high on July 31 after Apple issued an underwhelming outlook, while its quarterly results also showed weakness in the services business.

The new CEO will face his first major test on September 9, when he hosts Apple's iPhone launch featuring the first foldable iPhone. The success of this device and other products in Apple's pipeline, such as a smart display and future products like camera-equipped AirPods and smart glasses, will partly depend on the company's ability to improve its AI capabilities.

Ternus will also need to address the planned September rollout of a revamped Siri AI. Apple has struggled to develop its own AI models and is now using Google's Gemini technology as the foundation for Siri.