1 day ago
Apple (AAPL) is about to hand its top position to an engineer, and the early signs suggest the company's focus may be shifting even more toward its products. John Ternus becomes CEO on September 1, taking over from Tim Cook, who steps into the role of executive chairman. Ternus is not a finance or operations leader like Cook. He has spent his whole career in hardware, having joined Apple's product design team in 2001 and running its hardware engineering since 2013.
His track record is stacked with the products people actually hold. Ternus helped bring the iPad and AirPods to life, and oversaw hardware work across the iPhone, Mac, and Apple Watch. More recently, his teams redefined the iPhone 17 lineup, including the thin iPhone Air, and gave AirPods the ability to work as hearing aids. Even Cook, while announcing the handover, described Ternus as having "the mind of an engineer, the soul of an innovator."
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#ternus #hardware
His track record is stacked with the products people actually hold. Ternus helped bring the iPad and AirPods to life, and oversaw hardware work across the iPhone, Mac, and Apple Watch. More recently, his teams redefined the iPhone 17 lineup, including the thin iPhone Air, and gave AirPods the ability to work as hearing aids. Even Cook, while announcing the handover, described Ternus as having "the mind of an engineer, the soul of an innovator."
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#ternus #hardware
1 day ago
Apple (AAPL) is about to hand its top position to an engineer, and the early signs suggest the company's focus may be shifting even more toward its products. John Ternus becomes CEO on September 1, taking over from Tim Cook, who steps into the role of executive chairman. Ternus is not a finance or operations leader like Cook. He has spent his whole career in hardware, having joined Apple's product design team in 2001 and running its hardware engineering since 2013.
His track record is stacked with the products people actually hold. Ternus helped bring the iPad and AirPods to life, and oversaw hardware work across the iPhone, Mac, and Apple Watch. More recently, his teams redefined the iPhone 17 lineup, including the thin iPhone Air, and gave AirPods the ability to work as hearing aids. Even Cook, while announcing the handover, described Ternus as having "the mind of an engineer, the soul of an innovator."
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#iphone #Apple #airpods #engineer
His track record is stacked with the products people actually hold. Ternus helped bring the iPad and AirPods to life, and oversaw hardware work across the iPhone, Mac, and Apple Watch. More recently, his teams redefined the iPhone 17 lineup, including the thin iPhone Air, and gave AirPods the ability to work as hearing aids. Even Cook, while announcing the handover, described Ternus as having "the mind of an engineer, the soul of an innovator."
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#iphone #Apple #airpods #engineer
7 days ago
Apple said it is facing severe supply constraints that will affect sales of iPhones and Macs in the months ahead, underscoring the challenges looming over the company as Tim Cook prepares to hand over the CEO reins.
In his final earnings call as CEO, Cook said he has never been more optimistic about the opportunities ahead for Apple. "I am beyond excited," said Cook, who has led the company for 15 years and will pass the CEO baton to John Ternus in September. But Cook's confidence in the future stood in contrast to the picture that he and other executives painted of the current business conditions.
"We're seeing some very significant constraints currently, with limited flexibility in the supply chain," Cook said. "There's a quarter where we're going to be scrambling on the supply side," he acknowledged at another point.
The supply crunch is making it more difficult for Apple to obtain the advanced processors it needs for its phones and computers. And that translates into lower revenue.
Sales of the iPhone, which accounts for roughly half of Apple's business, will grow at a "mid-teens" percentage rate in the current quarter, Apple said, forecasting a significant deceleration from the 22% growth the iPhone business posted in the recently ended quarter. Total revenue in the current quarter will grow between 9% and 10% year-over-year, which was below the 12% rate expected by ***** ysts.
#business #sales
In his final earnings call as CEO, Cook said he has never been more optimistic about the opportunities ahead for Apple. "I am beyond excited," said Cook, who has led the company for 15 years and will pass the CEO baton to John Ternus in September. But Cook's confidence in the future stood in contrast to the picture that he and other executives painted of the current business conditions.
"We're seeing some very significant constraints currently, with limited flexibility in the supply chain," Cook said. "There's a quarter where we're going to be scrambling on the supply side," he acknowledged at another point.
The supply crunch is making it more difficult for Apple to obtain the advanced processors it needs for its phones and computers. And that translates into lower revenue.
Sales of the iPhone, which accounts for roughly half of Apple's business, will grow at a "mid-teens" percentage rate in the current quarter, Apple said, forecasting a significant deceleration from the 22% growth the iPhone business posted in the recently ended quarter. Total revenue in the current quarter will grow between 9% and 10% year-over-year, which was below the 12% rate expected by ***** ysts.
#business #sales
7 days ago
Longtime Apple (NASDAQ: AAPL) CEO Tim Cook will host his final earnings conference call after the bell on Thursday, July 30. While Cook was not the same type of innovator as his predecessor, Apple founder and legendary CEO Steve Jobs, he did a great job of nurturing Apple's core strengths. He will leave as Apple is the largest company in the world, with a market cap of $5 trillion. The question, though, is whether the stock is still a buy with him ready to depart.
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When Apple reports its fiscal third-quarter results, investors should expect much of the same. iPhone sales should be solid, with the company reportedly seeing a 3% increase in shipments during the quarter and gaining its highest-ever global market share at 20%, according to Centerpoint Research. This should then feed into its high-margin service revenue, which has consistently grown at a mid-teen rate.
Cook leaves Apple as having one of the best business models on the planet, making it easy for its next CEO to get off to a running start. The beauty of Apple is its closed ecosystem, which helps lock in customers. Once someone buys an iPhone, the cost of switching becomes increasingly difficult with each photo taken, subscription bought, and app downloaded. Users then become a part of Apple's huge service revenue machine. Apple is getting a high-margin revenue stream every time someone clicks on a search ad (as it gets a 36% revenue cut from Alphabet's Google), uses Apple Pay, buys cloud storage, or purchases a subscription or app.
Meanwhile, Apple just increased prices for several devices and certain service plans. This should be a nice revenue driver in the coming quarters after Cook leaves, giving incoming CEO John Ternus a solid revenue tailwind as he takes the reins. Ternus will also have time to execute a more comprehensive AI strategy for the company. That said, I wouldn't be surprised if Cook's decision to sit back and not throw huge amounts of money into chasing AI models proves to be a smart one.
#revenue #signal #same
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When Apple reports its fiscal third-quarter results, investors should expect much of the same. iPhone sales should be solid, with the company reportedly seeing a 3% increase in shipments during the quarter and gaining its highest-ever global market share at 20%, according to Centerpoint Research. This should then feed into its high-margin service revenue, which has consistently grown at a mid-teen rate.
Cook leaves Apple as having one of the best business models on the planet, making it easy for its next CEO to get off to a running start. The beauty of Apple is its closed ecosystem, which helps lock in customers. Once someone buys an iPhone, the cost of switching becomes increasingly difficult with each photo taken, subscription bought, and app downloaded. Users then become a part of Apple's huge service revenue machine. Apple is getting a high-margin revenue stream every time someone clicks on a search ad (as it gets a 36% revenue cut from Alphabet's Google), uses Apple Pay, buys cloud storage, or purchases a subscription or app.
Meanwhile, Apple just increased prices for several devices and certain service plans. This should be a nice revenue driver in the coming quarters after Cook leaves, giving incoming CEO John Ternus a solid revenue tailwind as he takes the reins. Ternus will also have time to execute a more comprehensive AI strategy for the company. That said, I wouldn't be surprised if Cook's decision to sit back and not throw huge amounts of money into chasing AI models proves to be a smart one.
#revenue #signal #same
8 days ago
Apple is due to report earnings Thursday afternoon, with options pricing suggesting traders see its stock swinging up to about 4% by the end of the week.
Thursday's report will be Apple's last with Tim Cook as CEO, with John Ternus set to take over the top job in September.
Apple is set to report earnings after the closing bell Thursday, with traders expecting the iPhone maker's stock could extend its record-setting rally following the results.
Based on current options pricing, Apple (AAPL) shares are seen swinging up to about 4% in either direction by the end of the week. A move of that size from Tuesday's close could send the stock up to a new record above $352, or back below $328, giving up some of its recent gains.
After overtaking Nvidia (NVDA) as the world's most valuable company and watching its market capitalization briefly cross the $5 trillion threshold, Apple saw its shares finish Tuesday's session 1% higher at a closing record of $340. The iPhone maker's stock has added one-quarter of its value this year amid optimism around strong iPhone sales and anticipated advances under new CEO John Ternus, who's set to take the helm from Tim Cook in September.
#Apple #thursday
Thursday's report will be Apple's last with Tim Cook as CEO, with John Ternus set to take over the top job in September.
Apple is set to report earnings after the closing bell Thursday, with traders expecting the iPhone maker's stock could extend its record-setting rally following the results.
Based on current options pricing, Apple (AAPL) shares are seen swinging up to about 4% in either direction by the end of the week. A move of that size from Tuesday's close could send the stock up to a new record above $352, or back below $328, giving up some of its recent gains.
After overtaking Nvidia (NVDA) as the world's most valuable company and watching its market capitalization briefly cross the $5 trillion threshold, Apple saw its shares finish Tuesday's session 1% higher at a closing record of $340. The iPhone maker's stock has added one-quarter of its value this year amid optimism around strong iPhone sales and anticipated advances under new CEO John Ternus, who's set to take the helm from Tim Cook in September.
#Apple #thursday
21 days ago
Apple (AAPL) is the world's most valuable technology company, founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, and headquartered in Cupertino, California. The company designs, manufactures, and markets a deeply integrated ecosystem of hardware, software, and services spanning iPhone, Mac, iPad, Apple Watch, AirPods, and Apple TV, alongside a high-margin Services portfolio encompassing the App Store, iCloud, Apple Music, Apple TV+, Apple Pay, and AppleCare.
With over 2.5 billion active devices globally, a market capitalization of approximately $4.63 trillion, and an imminent CEO transition from Tim Cook to hardware chief John Ternus, Apple remains the defining benchmark of consumer technology innovation and capital efficiency.
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With over 2.5 billion active devices globally, a market capitalization of approximately $4.63 trillion, and an imminent CEO transition from Tim Cook to hardware chief John Ternus, Apple remains the defining benchmark of consumer technology innovation and capital efficiency.
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2 months ago
June 17 (Reuters) - Apple plans to raise prices on its products to offset increasing memory and storage chip costs, CEO Tim Cook told the Wall Street Journal in an interview.
A surge in AI-driven demand for data centers has forced consumer electronics companies into a fierce competition for dwindling supplies of the key components, driving prices sharply higher.
Groups representing automakers, retailers, electronic firms and others had warned earlier this month that the increasing demand for memory chips could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains.
"Unfortunately, price increases are unavoidable," Cook told WSJ. "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable."
Cook, who will hand over the reins to John Ternus in September, did not disclose when or how much prices might rise, nor which products could be impacted.
A surge in AI-driven demand for data centers has forced consumer electronics companies into a fierce competition for dwindling supplies of the key components, driving prices sharply higher.
Groups representing automakers, retailers, electronic firms and others had warned earlier this month that the increasing demand for memory chips could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains.
"Unfortunately, price increases are unavoidable," Cook told WSJ. "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable."
Cook, who will hand over the reins to John Ternus in September, did not disclose when or how much prices might rise, nor which products could be impacted.
9 months ago
How has Tim Cook transformed Apple during tenure?
Why must Apple's next CEO come from within?
What major challenges await Apple's next CEO?
Who is likely to succeed Tim Cook as CEO?
Tim Cook has been the CEO of Apple (AAPL) for 14 years. During that time, the company’s market capitalization has eclipsed $4 trillion, and its yearly revenue has expanded to nearly half a trillion dollars. Those are successes by any measure.
https://finance.yahoo.com/...
Why must Apple's next CEO come from within?
What major challenges await Apple's next CEO?
Who is likely to succeed Tim Cook as CEO?
Tim Cook has been the CEO of Apple (AAPL) for 14 years. During that time, the company’s market capitalization has eclipsed $4 trillion, and its yearly revenue has expanded to nearly half a trillion dollars. Those are successes by any measure.
https://finance.yahoo.com/...
