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Apple names John Ternus CEO at September 9 iPhone event

9/7/2026

Summary

Apple Names CEO

Apple announced John Ternus as chief executive at the September 9 iPhone event.
Apple reached a $5 trillion market cap in July, heightening performance expectations.
JPMorgan expects Apple to launch iPhone 18 Pro, Pro Max and a foldable iPhone Ultra, omitting base models.
IDC projects the foldable iPhone’s average price at $2,550, pushing smartphone prices up $250-$300.
Apple will not release the new Siri AI assistant in the EU because of Commission rules.

Summary

Cook Remains Chairman

Tim Cook will remain executive chairman to manage global policy relationships after stepping down as CEO.
Apple’s annual sales rose from $108 billion to $416 billion in the most recent fiscal year under Cook.
Cook launched the wearables division, which generated $35 billion in fiscal 2025 sales.
Apple shipped roughly 150 million AirPods, contributing about $10 billion in revenue in 2025.
Engineer Ternus, who joined Apple in 2001, will join the Board of Directors.

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Apple Names CEO

Apple announced John Ternus as chief executive at the September 9 iPhone event.
Apple reached a $5 trillion market cap in July, heightening performance expectations.
JPMorgan expects Apple to launch iPhone 18 Pro, Pro Max and a foldable iPhone Ultra, omitting base models.
IDC projects the foldable iPhone’s average price at $2,550, pushing smartphone prices up $250-$300.
Apple will not release the new Siri AI assistant in the EU because of Commission rules.

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