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Tim Cook isn't just passing the torch, he's handing over one of the corporate world's biggest successes.

LOS ANGELES--(BUSINESS WIRE)--System1, Inc. (NYSE: SST) (“System1” or the “Company”) today announced that its MapQuest mapping service has surged to become the No. 1 overall free app in the Apple App Store in both the United States and Canada. The milestone follows a rapid ascent for the app. On August 31, 2026, MapQuest announced it had reached the No. 1 Navigation app ranking and the No. 8 and No. 2 overall free app positions in the U.S. and Canada Apple App Stores, respectively. Driven by us.

OpenAI slammed a lawsuit from Apple alleging it stole the iPhone maker’s trade secrets by hiring its employees, saying it’s “a mess of Apple’s own making,” according to a new legal filing.

The Sam Altman-led firm argued Apple’s lawsuit was a “baseless” attempt to keep the company from recruiting more employees and slow its progress on its consumer devices.

Many of the accusations that Apple made in its lawsuit are the result of its own bizarre offboarding process for workers, and there’s nothing illegal about Apple employees deciding to leave for new jobs at OpenAI, the company alleged in the late Monday filing in the Northern District of California.

OpenAI lashed out at a lawsuit from Apple alleging it stole the iPhone maker’s trade secrets. REUTERS “This dispute is a mess of Apple’s own making, and it is trying to blame everyone else,” OpenAI said in the document. 

“Apple blames employees who left the company for taking their personal accounts with them – even though Apple encouraged them to use personal accounts for work. 

“It blames employers who interview Apple employees for asking questions – even though those unremarkable questions are standard in tech and every other industry.”

Apple did not respond to The Post’s request for comment.

In July, Apple sued OpenAI for allegedly coordinating the theft of product designs, manufacturing processes and supply chain strategies – saying former Apple workers had brought confidential information with them at OpenAI’s behest.

The bombshell suit specifically named OpenAI’s chief hardware officer, Tang Tan, who worked at Apple for 24 years, and Chang Liu, another former Apple worker who joined OpenAI’s technical team.

OpenAI said Tan only sent non-confidential documents to his personal email, along with congratulatory messages from friends and colleagues and a copy of an Apple manager’s checklist for exiting employees.

Apple also alleged that Tan encouraged employees to bring “actual parts” of Apple devices to OpenAI interviews, but OpenAI said any parts that candidates brought were components of old, publicly available products, a common practice in engineering interviews.

In July, Apple filed a bombshell lawsuit against OpenAI alleging coordinated theft of product designs, manufacturing processes and supply chain strategies. Getty Images OpenAI said in Liu’s case, Apple staffers contacted him after he left and asked for help locating files, and he obliged — an example of what OpenAI characterized as a dysfunctional offboarding process at Apple.

The AI firm jabbed at Apple’s, saying it’s “no wonder” 400 of their employees have left the company to join OpenAI.

“Apple cannot stop the next 400 employees from leaving by filing baseless lawsuits,” OpenAI said in the filing.

“Employees have choices. They can leave a company like Apple that has struggled to adopt AI and move to an exciting startup that builds innovative products. Apple may not like those choices. But it cannot claim those choices are unlawful, and it cannot use its own sloppy procedures to blame others for its own mess.”

In a separate filing Monday, Apple asked for expedited discovery, alleging Liu only recently handed over a MacBook he used after leaving Apple that showed he downloaded confidential Apple information and instructed an OpenAI colleague to destroy evidence.

Apple has been rushing to ramp up its AI efforts. Robert Miller The legal battle is part of the fallout from a 2024 partnership between the two companies to have OpenAI’s ChatGPT work with Apple’s Siri.

Apple’s newest Siri, announced in June, is powered by Google’s Gemini.

OpenAI has since emerged as a potential threat to Apple’s business, as the company plans to release its own consumer devices – trying to chip away at the iPhone’s tight grip on the market.

In its legal filing, OpenAI said its first expected hardware device “is a new type of consumer device that differs materially from known Apple products.”

As Apple has been rushing to ramp up its own AI efforts, it sought a preliminary injunction to slam the brakes on OpenAI’s hardware ambitions in August. A judge is yet to rule on the request.

OpenAI, bought io Products – founded by longtime Apple designer Jony Ives – for $6.5 billion last year. Tan left Apple to join Ives’ startup, and is now working for OpenAI post-merger.

The Post’s parent company, News Corp, has a content-licensing deal with OpenAI.

Apple stock had a great run under former CEO Tim Cook. It was unremarkable compared to Magnificent Seven peers.

Apple's next CEO inherits a trillion-dollar empire and a glaring weakness that rivals have exploited for years. A top tech analyst says fixing one product could determine whether Apple leads the AI era or gets left behind.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Daniel Newman, CEO of Futurum Group, used a CNBC interview on August 31 to argue that incoming leadership at Apple (NASDAQ:AAPL | AAPL Price Prediction) inherits a company with an unresolved AI problem alongside a fortress balance sheet.

Newman told CNBC, “Tim accomplished a lot in his time. It’s very hard to look at 2,200%+, becoming the world’s most valuable company by market cap.” He noted that Apple surpassed $5 trillion in market cap last month and that Cook spent $877 billion on buybacks, described in the segment as more than the entire Magnificent Seven combined. As of Monday, the stock trades at $314.76, up 17.92% year to date and 37.98% over the past year.

Tim Cook’s Apple Created Enormous Wealth In Newman’s assessment, Cook-era numbers are strong in absolute terms but undifferentiated relative to peers. “The performance was good. It was very good. But it was really kind of equal among peers. And Tesla, of course, blew it away on more of these massive trends that they were able to pick up in tailwinds,” he said.

Newman argues that Apple underperformed Google, Amazon, Tesla, and NVIDIA during the recent AI boom, and Apple’s diversification bets outside the phone did not connect: the headsets flopped, the car efforts failed, and the smart home never gained traction.

Financially, the current business runs hot. Apple reported Q3 FY2026 revenue of $109.4 billion, up 16.36% year over year, with EPS of $2.02 versus an estimated $1.8914. iPhone contributed $54.3 billion, up 22%, and Services hit $30.7 billion, up 12%.

Why Siri Could Decide Apple’s AI Future Newman’s main point is that Apple still controls the surface where users meet AI, even if its AI assistant has lagged. “Siri hasn’t been as successful as I think many people had hoped. But having said that, the partnerships with Google, the fact that they are still the experience layer that so many of us are experiencing it on an Apple device, especially on the phone in the mobile side,” he said. Owning the interface layer differs from owning the underlying model, and Newman argues that leverage still matters.

On the Q3 call, Tim Cook said: “We were tremendously excited to unveil the all-new Siri AI, a completely reimagined version of Siri that is profoundly capable, deeply personal, and integrated seamlessly across our platforms.” R&D spending rose to $11.7 billion in Q3 2026, up from $8.9 billion year over year, and operating expenses climbed 23% year over year.

Why CEO John Ternus Could Signal a Return to Engineering Newman argues the bigger question is whether smartphones will remain the dominant device: “The question is, is the handset going to be the device of the future? We’ve seen the headsets kind of flop. Cars didn’t work out. Apple’s smart home never really became a thing,” he said.

Against that backdrop, Newman frames the leadership change as a deliberate tilt toward product invention: “Ternus is more of a hardware, he’s more of an engineering side, you know, go back to the Steve Jobs era. And they need that. They need to reinvent themselves, because I think getting Siri right is the first step.”

Key Takeaways Cook leaves Apple with enormous scale, cash flow and control over one of the world’s most important consumer computing platforms. But Newman argues that the next CEO will need to turn that distribution advantage into real AI leadership. Getting Siri right may be the first test.

Contact [email protected] for any questions or corrections.

Tuesday is John Ternus' first day as CEO of Apple, following Tim Cook's 15-year run as the top leader. Ternus is a 25-year company veteran and was Apple's senior VP of hardware engineering.

When Tim Cook took over as Apple's CEO, he ​did not try to fill the big shoes of its legendary founder and product visionary Steve Jobs. Instead, he took Jobs' advice: "Never ask ‌what I would do, just do the right thing."

Fifteen years on, having taken the iPhone maker (AAPL.O) from a $350 billion company to a more than $4.5 trillion behemoth, Cook will pass the baton to Apple hardware chief John Ternus, who will be steering the company in the AI era.

Cook will become executive chairman on September 1, guiding Apple's dealings with policymakers amid tense relations between its home market U.S. ​and China, where many of its products are made.

The transition caps one of the most consequential CEO tenures ever.

Unlike Jobs' product design genius, Cook ascended ​the Apple ladder by making the company's supply chain the envy of every manufacturer. As CEO, Cook used this operations-first mindset ⁠to take Apple's cutting-edge products to the masses.

In a perfect example of his business acumen, Cook understood Apple could make money from the customer long after the ​iPhone sale, turning the 2.5 billion installed iPhone user base into a recurring revenue machine. That business has outpaced growth in the company's hardware business in recent years.

Apple's annual ​sales rose from $108 billion at the start of Cook's tenure to $416 billion in the last fiscal year, while profit grew more than four fold to $112 billion.

Its wearables business, home to Cook-era iPhone accessories such as the Apple Watch and AirPods, brought in $35 billion in sales in fiscal 2025.

"Not only did Cook create his own path of operational and supply chain success but, he also ​created a 'values-driven' culture within Apple," said Christopher Brown, a financial adviser at private wealth management firm Synovus Securities, which holds the iPhone maker's shares.

"What followed was a consumer ​brand loyalty and dependency flywheel that generated trillions of dollars in revenue."

AI AND OTHER MISSES
Critics have long accused Apple of losing its innovation edge in the Cook era. Cook, they say, ‌has failed ⁠to answer what comes after the iPhone, as hardware rivals look to displace the smartphone as the default consumer device.

Cook's tenure had other misses: a decade-long EV project Apple scrapped in 2024 just as they took off in China. The company also famously botched the launch of Apple Maps in 2012, months after Cook took charge, leading to the departure of close Jobs collaborator and software chief Scott Forstall.

Apple's bet on the Vision Pro augmented-reality headset, which debuted at a whopping $3,499 in 2023, failed to produce ​strong sales, and its products have lagged ​in AI features, including delays in ⁠revamping Siri.

"AI is the single biggest challenge for Ternus. Apple needs to demonstrate that AI will be more than an app on the iPhone, more than Siri," said Brian Mulberry, chief market strategist at Zacks Investment Management, which owns Apple stock.

"Beyond AI, ​the pressure to continue to remove manufacturing from China without pressuring margins is a tall task to undertake but part ​of that process is ⁠already underway," he said.

Apple's dependence on China delivered decades of manufacturing efficiency, but rising Sino-U.S. tensions, tariffs and supply-chain disruptions exposed the risks of concentrating production in a single country, prompting the iPhone maker to expand manufacturing in India and other countries.

Those moves, including making most U.S.-bound iPhones in India by the end of 2026 and assembling certain devices such ⁠as AirPods ​and iPads in Vietnam, have helped Apple better navigate the tariff storm that disrupted businesses across the ​U.S.

Cook elevated a broader leadership team and recast Apple as an institution, giving himself room to focus on strategy and resource allocation while keeping a lower public profile, said Bill Birmingham, managing director at ​REX Financial.

"This gave Cook space to make unpopular decisions and even be ruthless out of the spotlight."

(This story has been refiled to add the dropped word 'be' in paragraph 2.)

Tech StocksTim Cook may be stepping down as Apple’s CEO, but he’s sticking around in an expanded board role

Photo: MarketWatch photo illustration/Getty ImagesCongratulations, you’ve just scored a big promotion at work. 

But the pay bump and more prestigious title comes with challenges. How do you delegate the tasks you formerly did, lead former peers and juggle increased responsibilities? To make things more complicated, how do you lean into your new role when your old boss is watching you from the wings and still making decisions? 

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Michael Buckner/Variety via Getty Images It's day one for John Ternus.

He has eight days to settle in as Apple's new CEO. On September 9, Apple will stage its annual iPhone pageant. The reported headliner: its first foldable iPhone.

No pressure, then.

Further out, reports point to an AI home hub, camera-equipped AirPods, smart glasses, and a robotic assistant.

It seems Apple has no shortage of places to put AI. It still has to make AI worth putting there, though.

That is Ternus' problem.

Apple had a head start in the AI-assistants race. Now it is playing catch-up.

Apple delayed its AI overhaul of Siri, then turned to Google's Gemini for the next generation of Apple Intelligence. You can read that as a way to avoid paying Google-sized bills for research and development. You can also read it as an admission of weakness.

Then there is the people problem.

Apple has suffered a talent exodus. Foundation-models leader Ruoming Pang, engineering head Frank Chu, and design VP Alan Dye all left Apple for the same rival.

Yes, Meta has become something of an Apple alumni association.

Ternus needs to convince Apple's best people that the future is still being built in Cupertino.

He also inherits one of Tim Cook's specialties: the tightrope walk between China, tariffs, and Washington.

Cook was pivotal in expanding Apple's presence in China and helping the company navigate tariffs and supply chain challenges by getting on President Donald Trump's good side.

Ternus won't have to handle it alone. Cook is staying on at Apple as executive chairman, a role that includes "engaging with policymakers around the world," the company said.

Still, for Ternus, a hardware man, diplomacy is a rather different type of engineering.

Hallam Bullock You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Hallam Bullock is the Senior Editor of Owned & Operated Audience at Business Insider. He works across newsletters, homepage, and app. Previously, he was BI's Newsletter Editor. Before joining BI, he worked on The Telegraph's newsletter portfolio, curated and edited stories at Facebook and Upday for Samsung, and wrote for The Times in London.

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Rosenblatt raised its Apple (NASDAQ: AAPL) stock price target from $300 to $303 on September 1, while maintaining a ‘Neutral’ rating ahead of the likely foldable iPhone launch next week.

According to the research note, the firm believes Apple can navigate supply-chain pressures thanks to higher prices, premium products, and strong product innovation that justify the valuation.

With Tim Cook stepping aside as CEO and allowing John Ternus to take his place, analyst Barton Crockett expects ‘a September to remember,’ even though the newly adjusted target still implies approximately 4.37% downside from the current levels.

“As Tim Cook stepped aside as CEO on Aug. 31 at the age of 65, and John Ternus steps up today as CEO, we update Apple estimates for what promises to be a September to remember, with a high-profile iPhone rollout slated for Sept. 9… We assume successful navigation of supply chain constraints – with price hikes and premium priced products muting margin pressures – and tweak up estimates, moving our price target up $3 to $303,” Crockett wrote.

Apple stock will be successful, Rosenblatt says As mentioned, the updated outlook comes just one day after Tim Cook stepped aside as Apple’s CEO at age 65. Rosenblatt thus sees the leadership transition and an upcoming high-profile iPhone rollout as an early test of Ternus’ ability to drive product innovation and support Apple’s premium valuation.

Being generally bullish, the firm slightly increased its estimates ahead of the iPhone fold launch, pointing to price increases and premium-priced products as factors that could help offset expected margin pressure. 

Notably, Rosenblatt highlighted supply-chain constraints as a key risk, while warning that Apple’s valuation leaves limited room for execution setbacks. Crockett said the stock trades at a price-to-earnings (P/E) multiple in the 30s, assuming the company successfully executes on its plans.

The $303 price target itself is based on a 31x multiple of projected fiscal 2027 earnings per share (EPS), which the analyst described as a healthy premium relative to Apple’s expected low-double-digit EPS growth rate.

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Google Maps now shows different names depending on a user’s country, while a Trump administration official says Apple has been ‘directly’ contacted by the president about making changes

President Donald Trump’s order to rename Lake Ontario as Lake America has created a thorny situation for those relying on digital mapping tools.

As with Trump’s 2025 decision to designate the Gulf of Mexico as the Gulf of America, the latest move left major technology companies in the crosshairs. While Google GOOG GOOGL has attempted to strike a balance depending on a user’s geography, Apple AAPL has yet to update its Maps app with the Lake America name.

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John Ternus was Apple's head of hardware engineering. Justin Sullivan/Getty Images It's official. John Ternus has replaced Tim Cook as Apple's CEO.

Ternus, a career product guy, is taking the helm after Cook, an operations guy, led the company for just over 15 years. Cook's famed predecessor, Steve Jobs, was also a product guy.

The new CEO steps in as Apple faces pressure on the product and operational fronts. Apple has raised prices on MacBooks and iPads amid an ongoing memory chip crunch, is facing AI regulations in Europe, and is about to launch the latest — maybe foldable? — version of its iPhone.

During the company's July earnings call, Cook called Ternus "one of a kind" and said the transition would go "seamlessly."

Cook, who has cozied up to President Donald Trump, will remain at Apple as executive chairman — a position that includes "engaging with policymakers around the world," the tech company wrote.

"I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition," Cook said in an April press release announcing Ternus's promotion.

Meanwhile, Apple fans and Wall Street have become more familiar with Ternus as he's made public appearances tied to iPhone and other product events.

"Stepping into the role of CEO is incredible, and it means a great deal to me to have Tim's trust and confidence," Ternus said during an April earnings call.

His first public event as CEO is expected to be Apple's "Surprise and Shine" hardware event on September 9, where the tech giant is unveiling its new slate of iPhones.

Here's what to know about the executive who has taken over.

He studied engineeringTernus graduated from the University of Pennsylvania with a degree in engineering in 1997, according to his LinkedIn profile. He majored in mechanical engineering.

He then worked for four years as an engineer before joining Apple's product design team in 2001, per the company's website.

Ternus became vice president of hardware engineering in 2013, taking over from Dan Riccio. He's worked on various Apple products, including every generation and model of iPad, as well as AirPods.

He worked under Steve Jobs and described Cook as a mentor in his statement after Cook was named the new CEO.

With his hardware chops, Ternus as CEO marks the return of a chief executive at Apple with a product design background.

Ternus has ample public speaking experience

John Ternus at Apple's WWDC event in 2017.  Josh Edelson/AFP/Getty Images The job of Apple CEO is one of the most high-profile executive positions in the world, requiring regular media and keynote appearances.

Ternus hasn't shied away from the spotlight, as he has also presented new products and unveiled new versions of the iMac and MacBook at past Worldwide Developers Conference (WWDC) events.

At Apple's "Let Loose" event in May 2024, Ternus unveiled new, thinner iPad Pro and iPad Air models. His 2025 was marked by several media appearances, including interviews about Apple's plans for Apple Intelligence and new hardware.

Following the launch of the new iPhone Air, Ternus and senior vice president of worldwide marketing, Greg "Joz" Joswiak, gave an interview showcasing the durability of Apple's thinnest phone.

Now, all eyes are on Ternus as he takes the helm of one of the largest companies in the world.

"I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century," Ternus said.

Read next

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Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41. 

Apple Tim Cook

On his last earnings call as Apple (AAPL -0.89%) CEO, Tim Cook said his company is facing a unique challenge due to a shortage of memory chips for its devices.

Data centers are gobbling up available memory, leaving Apple and its peers paying more for memory than in the past, and causing shortages. Cook said he anticipates "market pricing for memory continuing to increase, which could drive an increasing impact on our business."

Importantly, management said rising memory costs could affect iPhone sales and reduce the company's margins beyond the current quarter.

Cook's warning came as new Apple CEO John Ternus just took the helm at the company. Here's what Apple shareholders need to know about the memory shortage's impact on Apple's margins.

Incoming Apple CEO John Ternus. Image source: Apple.

Cook said on the third-quarter earnings call that Apple has consistently anticipated paying more for memory in each subsequent quarter. And that's exactly what's happened. Cook noted:

"As I alluded to last quarter, we expected to pay significantly more in the June quarter than the March quarter, and that is what happened.... For September, we expect to pay even higher memory costs..."

While Apple has the benefit of pre-purchasing memory at a lower cost, Cook said this benefit is declining over time and will continue to do so beyond the September quarter because prices keep rising.

Apple raised prices on its Macs in June and is widely expected to increase the prices of some of its new iPhones when they debut on Sept. 9. Price hikes help offset some of the rising memory costs, but they're not enough to erase the damage.

And Apple's management was clear that its device margins would fall.

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Apple's margins will drop (at least temporarily) under Ternus Apple CFO Kevan Parekh said on the call that the company's margins will be 46.5% for the September quarter, down from 48.1% in the June quarter (excluding tariff benefits). And he specifically cited memory as the reason for the decline, noting that the decrease is "really driven by memory."

This decline comes just as John Ternus is taking over for Cook. So what might Ternus do about the falling margins?

Apple has reportedly already tested DRAM memory chips from the Chinese company CXMT. The idea behind the move is that Apple could use memory from this supplier for Apple devices sold in China. The Financial Times has also reported that Apple is lobbying the U.S. government to allow broader use of CXMT's memory processors outside of China.

But that likely won't be the fix Apple needs. CXMT has already reached its annual memory production capacity, according to the Wall Street Journal.

For now, it looks as if Apple's margins will decline slightly under Ternus, and the company doesn't have a permanent fix -- even with raising device prices.

Samsung, SK Hynix, and Micron Technology are the world's three largest memory companies -- accounting for about 94% of the DRAM memory market -- and all are all Apple suppliers. And management at SK Hynix and Micron have said the current memory crunch could last through 2027 or even 2030.

All of which means that Apple will likely be battling to regain its margins early in Ternus' tenure -- at least until the company can find the right mix of price increases and memory supply.

Today is a big day for Apple (AAPL -0.89%) and its shareholders as Tim Cook hands over the job of chief executive officer to John Ternus. The new chief, most recently Apple's senior vice president of hardware engineering, takes the helm at a company that's transformed the smartphone market -- in fact, the famous iPhone continues to hold the top spot worldwide quarter after quarter.

The popularity of the iPhone and other products like the Mac and iPad has helped the company generate record levels of earnings and even deliver recurring revenue through the offering of services. All of this has led the stock price higher over time.

But, in recent weeks, Apple shares have dipped. Though Apple reported strong revenue in the recent quarter, the company's outlook, cautious amid supply constraints and higher memory chip costs, disappointed investors. Still, growth is far from over for this tech giant, and now, another important moment lies just ahead on Sept. 9. Should you buy the stock before that time? Here's what history says.

Image source: The Motley Fool.

Apple's market dominanceBefore diving in, however, let's take a quick look at the Apple story so far. The famous iPhone is far from new, with the first version launched back in 2007. Within a few years, the product became a smashing success and set Apple on track to market domination. As mentioned, the iPhone maintains its position as the best-selling smartphone globally -- in the second quarter, the iPhone 17 took the No. 1 spot, and iPhones held five out of the top 10 positions, according to Counterpoint Research.

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Customers also flock to Apple for its range of other products, and these devices have helped the company establish a solid moat; Apple fans love the products so much that they don't often switch. Today iPhone brand loyalty has reached more than 96%, up from 91% five years ago, according to a SellCell survey. This has resulted in solid growth in revenue over the years, with the recent quarterly figure climbing 16% to more than $109 billion.

Still, as mentioned, Apple disappointed investors when it predicted revenue growth of 9% to 11% in the current quarter, falling short of analysts' forecasts of 12% growth. And this weighed on the stock price, leading to a 4.2% decline from the July 30 earnings report through the Aug. 28 trading session.

Apple's new productsBut a happening just ahead may put the spotlight on Apple once again. On Sept. 9, the company, with new CEO Ternus at the helm, is set to hold a launch event. Analysts predict the company will unveil new iPhones and even the much-anticipated foldable phone, as well as Apple Watches.

Should you buy the stock prior to this big day? Well, a look at the past five Apple September launches shows that three out of five times, the stock has advanced in the month to follow.

Launch date1-month stock performanceSept. 19, 2025+2.7%Sept. 20, 2024+2.9%Sept. 22, 2023-1%Sept. 16, 2022-8%Sept. 24, 2021+1.2%Data source: Ycharts.So, by investing prior to the upcoming launch event, you may benefit in the near term if history is right. But does this really mean you should rush to get in on Apple right now? While a near-term gain clearly would be fantastic, short-term performance won't make or break your portfolio.

What's most important is a stock's potential over the long term. And, here, there's reason to be optimistic about Apple. The company has the strength to weather the storm of memory prices and supply constraints -- even if this restricts growth to a certain degree today, it's unlikely to hurt Apple's long-term prospects. Meanwhile, it's key to note that John Ternus, with strengths in building Apple products, could usher in a fresh era of growth in the coming years.

All of this means Apple is a buy, but you don't have to rush to get into the stock before Sept. 9 -- a purchase before or after the launch event could generate fantastic returns over the long run.

Tim Cook retains boardroom influence, while John Ternus assumes responsibility for a business still dominated by physical products. Summary

Products supplied approximately 71.9% of Apple’s latest quarterly revenue.

Apple AAPL, the consumer-technology powerhouse, is changing the driver of its $109.4 billion quarterly machine. The Financial Times reported that hardware boss John Ternus will replace Tim Cook after 15 years at the top. The stock traded at $316.51, down approximately 1.0%.

This is a handoff, not a farewell. Apple's succession plan moves Cook into the executive-chairman seat, where he will retain selected duties, including government engagement. Ternus joins the board, while Arthur Levinson becomes lead independent director. Cook keeps the relationships. Ternus gets the controls.

The numbers explain the choice. Apple's latest quarterly statements show products delivered $78.68 billion, or 71.9%, of $109.42 billion in revenue. Services contributed the remaining 28.1%. Meanwhile, the stock sits 11.36% above its $284.21 GF Value estimate, leaving little room for a messy transition. Ternus must move fast—and Cook must give him enough space to lead.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Image Credits:Kirby Lee / Getty Images

In its lawsuit against OpenAI, Apple filed what it calls “shocking evidence” to bolster its allegations that former employees stole trade secrets for OpenAI’s benefit. These new details emerged after the legal counsel for former Apple employee Chang Liu — who now works at OpenAI — handed over Liu’s old Apple work laptop for investigation earlier this month.

Apple now alleges that Liu used a confidential Apple circuit schematic in his work at OpenAI, as well as a tool that shares a name with an internal Apple engineering application. The company claims that OpenAI was “well-aware” of Liu’s access to Apple data, and that Liu enlisted OpenAI colleague Yu-Ting Peng to help destroy evidence in June when he learned that Apple was investigating him.

“The MacBook represents the very limited information Defendants provided so far (and only after weeks of delay), and shows Apple is not conducting ‘fishing expeditions’ but that its trade secrets are being used and evidence is being destroyed,” the filing reads.

While this new evidence is redacted from public view, past filings from Apple have included text messages from Liu — which he punctuated with “crying laughing” emojis — showing he was aware that he still had access to Apple files.

OpenAI has previously defended Liu by saying that he only accessed Apple files after he stopped working there in order to help former colleagues who asked for his assistance. “Apple now tries to shift the blame to ‘residual access,’ but they also don’t disclose that this is a common issue with Apple which is caused by them failing to properly manage system access when people leave,” OpenAI wrote in a blog post earlier this month.

But Apple claims that Liu had continued access because he “exploited a rare, previously unknown authentication bug.”

TechCrunch has requested comment from OpenAI on Apple’s newest allegations.

Apple is seeking a preliminary injunction — a court order that would block OpenAI from working on hardware based on Apple’s technology while the case is ongoing — as well as expedited discovery, a fast-tracked process for gathering evidence, since the company alleges that more former employees may also be implicated.

According to Apple’s initial filing, more than 400 former Apple employees now work at OpenAI.

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Amanda Silberling is a senior writer at TechCrunch covering the intersection of technology and culture. She has also written for publications like Polygon, MTV, the Kenyon Review, NPR, and Business Insider. She is the co-host of Wow If True, a podcast about internet culture, with science fiction author Isabel J. Kim. Prior to joining TechCrunch, she worked as a grassroots organizer, museum educator, and film festival coordinator. She holds a B.A. in English from the University of Pennsylvania and served as a Princeton in Asia Fellow in Laos.

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The housing market sees lasting headwinds as mortgage rates hit one-year highs. Marley Kayden discusses the broader implications it has for the sector, along with what Tim Cook stepping down as the CEO of Apple (AAPL) means for the iPhone developer.

Apple veteran Phil Schiller has stepped down from overseeing the App Store and the company's product events, adding another leadership change just as John Ternus prepares to take over as CEO. Schiller, 66, will remain at Apple as an Apple Fellow and work on unspecified initiatives, Bloomberg reported Monday (Aug.

Apple shares AAPL fell 1.8% on Monday as John Ternus prepares to take over as chief executive, succeeding Tim Cook after more than a decade at the helm.

Ternus will assume control of a company valued at nearly $5 trillion, making sustaining Apple's growth from its current scale one of his biggest challenges.

The incoming CEO inherits a business that has expanded significantly under Cook.

Apple sold about 72 million iPhones in the year Cook became CEO, while Counterpoint Research estimates the company will sell 255 million this year.

Cook's tenure has also been defined by disciplined capital allocation, regular product launches and a substantial expansion of Apple's services business. T

he company has returned more than $1 trillion to shareholders through dividends and buybacks.

However, investors are now looking for Apple's next major growth driver, particularly as artificial intelligence reshapes the technology industry.

One of Ternus's immediate priorities will be Apple's artificial intelligence strategy, particularly the development of Siri.

Futurum Group CEO Daniel Newman said Apple needs to identify the next major computing platform after the smartphone. "Apple needs to own this," Newman said in a CNBC interview, adding that he believes this is Ternus's "big job."

Newman argued that Apple currently occupies an important position as the "experience layer" for AI because consumers increasingly use services such as ChatGPT and Claude through Apple devices.

However, he said the company has yet to fully capitalize on that position.

Apple has announced software improvements designed to make Siri capable of completing more tasks.

Early tests of the Siri AI beta by the Wall Street Journal found that it could take longer than competing assistants, although Apple's use of Google technology on the backend has significantly improved its capabilities.

Newman said Apple's bigger challenge goes beyond Siri and concerns whether the iPhone itself will remain the central device for computing.

"Is the handset going to be the device of the future?" Newman asked.

He pointed to efforts by OpenAI and Meta to develop new devices that could change how consumers interact with technology.

Apple's valuation presents another challenge for Ternus.

The stock trades at 33 times next year's earnings, compared with about 20 times for the S&P 500, even though Apple's earnings are growing at roughly half the market's rate.

Craig Moffett of Moffett Nathanson said investors have been willing to pay a premium for Apple because it appears relatively safe amid uncertainty over returns from massive AI investments.

However, he cautioned, "when valuation gets stretched, safety isn't safe anymore."

Apple is also dealing with pressure across its supply chain.

AI companies are competing for memory, storage and logic-chip capacity, potentially increasing Apple's costs and contributing to shortages. The company has passed some higher costs on to consumers.

Apple's continued dependence on China is another issue facing Ternus.

While Cook has largely managed tariff-related risks through political engagement, much of Apple's supply chain remains concentrated in China amid an ongoing US-China trade conflict.

The company's services business is facing pressure as well. A California judge's rulings have reduced Apple's ability to collect fees from some in-app purchases. Appfigures estimates that Apple's US App Store commission revenue fell 6% in the June quarter.

Despite these challenges, Apple enters the transition with several strengths.

The iPhone remains highly popular, with the iPhone 17 Pro benefiting from improvements including a better camera and stronger battery.

The Mac is also seeing renewed demand as Apple-designed chips prove capable of running large language models locally, contributing to product shortages.

A foldable iPhone is also expected to feature in Ternus's first iPhone launch event.

IDC estimates the device could capture 40% of the foldable smartphone market by the end of 2027.

Newman said Ternus also faces a high bar following Cook's tenure. He credited Cook with building Apple's global supply chain and strong unit economics, while noting that Ternus's background in hardware and engineering gives him a different skill set.

"We've seen the headsets kind of flop. Cars didn't work out. Apple's smart home never really became a thing," Newman said, highlighting Apple's difficulty in creating successful new product categories.

Apple's stock has gained more than 2,200% during Cook's tenure, although Newman said it has lagged several Magnificent Seven peers. He also estimated that Apple spent about $877 billion on share buybacks during that period.

For Ternus, the task is therefore not simply to maintain Apple's existing businesses, but to establish where the company's next phase of growth will come from as AI changes the technology landscape.

Apple begins a new era as John Ternus takes over from Tim Cook on September 1st. Bloomberg's Mark Gurman explains why the transition is likely to be gradual, how Ternus could reshape decision-making at Apple, and why his product background matters as the company prepares its next wave of iPhones, Macs and other devices.

Tim Cook is departing from his long-held role as Apple's CEO — and a wave of top executives are heading for the exits as he does.

Apple CEO Tim Cook is stepping down from his role at the helm of one of the world's largest tech companies after a 15-year tenure that saw Apple become the first publicly traded U.S. company with a $1 trillion market cap and other notable milestones.

He announced in April that he would step down as Apple CEO at the end of August, and while he is leaving that role, he will remain with the company as the executive chairman. John Ternus, who most recently served as Apple's senior vice president of hardware engineering, will be Cook's successor.

Cook became CEO in August 2011 when Apple co-founder Steve Jobs resigned six weeks before his death. Jobs first met Cook in 1998 and convinced him to join Apple that year, starting his career at the tech giant as a senior vice president for worldwide operations.

"As you know, I am not leaving Apple. But I am stepping away from a role that I have loved deeply," Cook said in a memo emailed to all employees on his final day. "I will miss this work in ways I can only begin to imagine, even as I remain completely at peace with my decision."

APPLE POSTS RECORD JUNE QUARTER AS IPHONE SALES SURGE; COOK WEIGHS IN ON AI, CHINA

Apple CEO Tim Cook is stepping down from the role on Monday, Aug. 31, after leading the company to historic milestones during his tenure at the helm. (Justin Sullivan/Getty Images)

"Together, we have created something far greater than any one of us could have imagined or accomplished alone. And that's the secret to our success. We bring out the best in each other. We lift each other up," Cook said.

"We have made it possible to leave our 'dent in the universe,' as Steve once described it, because of who we are and what we believe, because of what we value and how we see the world," he added.

Cook's tenure at Apple saw the tech giant move to compete in new product and service categories, building a broader consumer tech ecosystem off of the MacBook, iPhone and iPad.

APPLE CEO TIM COOK TO STEP DOWN IN MAJOR LEADERSHIP SHAKEUP, SUCCESSOR NAMED

Tim Cook served 15 years as Apple CEO and will remain as the company's executive chairman. (Michael M. Santiago/Getty Images)

In 2014, Cook and the company announced the Apple Watch as the company entered the wearable health tech market, while it also launched Apply Pay that year to build on its base of consumer device users to compete in mobile payments.

The next year, Apple Music marked the company's pivot from iTunes to a subscription-based model for consumers who stream their music, while 2016 saw the debut of Apple's AirPods which supercharged the growth of the company's wearables division. The company also launched Apple TV+ and Apple Card in 2019 as it continued to broaden its service offerings.

Apple also hit a number of major corporate milestones under Cook's leadership. It became the first U.S.-based publicly traded company to reach $1 trillion in market capitalization in 2018. 

Apple later reached the $2 trillion milestone in 2020, surpassed the $3 trillion market for the first time in 2022 during intraday trading, then crossed $4 trillion in October 2025. It briefly overtook Nvidia for largest market cap in July 2026.

WHO IS JOHN TERNUS, SET TO SUCCEED TIM COOK AS APPLE'S CEO?

Ticker Security Last Change Change % AAPL APPLE INC. 319.70 +5.12 +1.63% Over the years, Apple has vied with ExxonMobil, Nvidia and Microsoft for the title of most valuable publicly traded U.S. company, with the top spot regularly changing hands among those companies. Within that period, Apple ranked first for much of the 2013 to 2018 period.

Apple currently has a market cap of roughly $4.6 trillion, ranking second behind Nvidia's $5.25 trillion market cap while leading Microsoft's $3.79 trillion valuation.

Apple is planning to hold the first major event under new CEO John Ternus next week on Sept. 9, when it will unveil its newest iPhone and could potentially reveal the long-awaited foldable iPhone.

Cook said in his letter that he takes "enormous comfort in handing the helm to someone as brilliant and wonderful and capable as John," adding that few people "understand what it takes to build products that change the world the way John does and I could not be more excited for his leadership."

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A report by Reuters noted that analysts expect Apple to launch a foldable iPhone, entering a new segment of the smartphone market to compete with Samsung in the growing device segment.

Generate Investment Management Ltd lifted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420,426 shares of the iPhone maker’s stock after buying an additional 11,383 shares during the period. Apple makes up approximately 5.0% of Generate Investment Management Ltd’s portfolio, making the stock its 5th biggest holding. Generate Investment Management Ltd’s holdings in Apple were worth $121,654,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth approximately $52,266,468,000. Nuveen LLC purchased a new position in Apple in the first quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. lifted its stake in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance Shares of NASDAQ:AAPL opened at $319.70 on Monday. The company has a 50 day moving average of $312.24 and a 200 day moving average of $288.52. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.67 trillion, a P/E ratio of 36.66, a P/E/G ratio of 2.74 and a beta of 1.09. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year. Apple Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple’s payout ratio is presently 12.39%.

Key Apple News Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple’s September 9 event will be the first major product launch under incoming CEO John Ternus. Expectations for the iPhone 18 lineup, camera improvements and a possible foldable iPhone are supporting sentiment. IDC reportedly expects more than 10 million foldable iPhone shipments in the first year, although that forecast remains speculative. Apple stock rises ahead of September event Positive Sentiment: Apple is raising U.S. prices for Apple TV and Apple One subscriptions, in some cases by up to 20%. The increases could lift services revenue and margins, though investors will monitor customer retention and potential subscription churn. Apple raises subscription prices Positive Sentiment: Walmart plans to add Apple Pay support across its U.S. stores and Sam’s Club locations by the end of 2026. Wider acceptance could increase Apple Pay usage and strengthen Apple’s payments ecosystem. Walmart to add Apple Pay support Positive Sentiment: Recent results provide fundamental support: Apple reported quarterly EPS of $2.02 versus a $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. Neutral Sentiment: The CEO transition creates both opportunity and execution risk. Ternus’s product-design background is viewed favorably, but he will face an immediate test with the iPhone launch shortly after taking over from Tim Cook. Apple’s first iPhone launch under John Ternus Negative Sentiment: Apple is eliminating roughly 147–200 jobs across Siri, machine-learning and Vision Pro teams while redirecting resources toward AI. The restructuring may improve focus, but it also highlights concerns about Siri’s delays and Apple’s position in generative AI. Apple layoffs in Siri and Vision Pro teams Negative Sentiment: High expectations and a premium valuation leave less room for disappointing foldable-iPhone demand, AI progress or margins. Rising memory-chip costs could also pressure profitability. Negative Sentiment: Apple SVP Jennifer Newstead sold 1,439 shares worth approximately $447,000. The sale is small relative to Apple’s size and may be routine, but it provides a modest negative sentiment signal. SEC Form 4 filing Wall Street Analysts Forecast Growth A number of equities research analysts recently issued reports on AAPL shares. Robert W. Baird boosted their price objective on Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Citigroup reiterated a “buy” rating and issued a $365.00 target price (up from $315.00) on shares of Apple in a research note on Monday, July 13th. DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Apple in a research report on Friday, July 31st. UBS Group restated a “neutral” rating on shares of Apple in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Apple from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $330.53.

Check Out Our Latest Stock Analysis on Apple

Insiders Place Their Bets In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president owned 37,229 shares of the company’s stock, valued at approximately $11,576,357.55. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,433 shares of company stock valued at $1,367,024 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

See Also Five stocks we like better than Apple Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally Rubrik’s AI Security Bet Could Power the Next Leg Higher Apple’s Foldable iPhone Could Be a Catalyst, But Not a Cure-All Snowflake Is Up Nearly 50% in 2026—What Are Short Sellers Betting Against?

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

Capstone Wealth Management Group Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,976 shares of the iPhone maker’s stock, valued at approximately $10,699,000. Apple comprises 6.4% of Capstone Wealth Management Group Inc.’s holdings, making the stock its 4th largest position.

A number of other large investors also recently bought and sold shares of AAPL. Evansbrook LLC increased its holdings in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. raised its stake in Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after buying an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. lifted its stake in Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares during the last quarter. Interactive Financial Advisors Inc. lifted its holdings in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares during the last quarter. Finally, Sugar Maple Asset Management LLC boosted its position in Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance Shares of NASDAQ:AAPL opened at $319.70 on Monday. The firm has a market cap of $4.67 trillion, a PE ratio of 36.66, a PEG ratio of 2.74 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $225.95 and a 12-month high of $344.57. The company’s 50 day moving average price is $312.24 and its two-hundred day moving average price is $288.52.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. Equities research analysts predict that Apple Inc. will post 8.76 earnings per share for the current year. Apple Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio is presently 12.39%.

Apple News Roundup Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple’s September 9 event will be the first major product launch under incoming CEO John Ternus. Expectations for the iPhone 18 lineup, camera improvements and a possible foldable iPhone are supporting sentiment. IDC reportedly expects more than 10 million foldable iPhone shipments in the first year, although that forecast remains speculative. Apple stock rises ahead of September event Positive Sentiment: Apple is raising U.S. prices for Apple TV and Apple One subscriptions, in some cases by up to 20%. The increases could lift services revenue and margins, though investors will monitor customer retention and potential subscription churn. Apple raises subscription prices Positive Sentiment: Walmart plans to add Apple Pay support across its U.S. stores and Sam’s Club locations by the end of 2026. Wider acceptance could increase Apple Pay usage and strengthen Apple’s payments ecosystem. Walmart to add Apple Pay support Positive Sentiment: Recent results provide fundamental support: Apple reported quarterly EPS of $2.02 versus a $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. Neutral Sentiment: The CEO transition creates both opportunity and execution risk. Ternus’s product-design background is viewed favorably, but he will face an immediate test with the iPhone launch shortly after taking over from Tim Cook. Apple’s first iPhone launch under John Ternus Negative Sentiment: Apple is eliminating roughly 147–200 jobs across Siri, machine-learning and Vision Pro teams while redirecting resources toward AI. The restructuring may improve focus, but it also highlights concerns about Siri’s delays and Apple’s position in generative AI. Apple layoffs in Siri and Vision Pro teams Negative Sentiment: High expectations and a premium valuation leave less room for disappointing foldable-iPhone demand, AI progress or margins. Rising memory-chip costs could also pressure profitability. Negative Sentiment: Apple SVP Jennifer Newstead sold 1,439 shares worth approximately $447,000. The sale is small relative to Apple’s size and may be routine, but it provides a modest negative sentiment signal. SEC Form 4 filing Analyst Upgrades and Downgrades AAPL has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on Apple in a report on Monday, August 17th. They issued a “buy” rating for the company. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Friday, July 31st. Jefferies Financial Group lowered shares of Apple from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $285.56 to $263.66 in a research note on Monday, August 10th. Rosenblatt Securities lifted their price target on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $330.53.

Get Our Latest Report on AAPL

Insider Buying and Selling In related news, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total value of $447,457.05. Following the transaction, the senior vice president owned 37,229 shares in the company, valued at $11,576,357.55. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 4,433 shares of company stock worth $1,367,024 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Further Reading Five stocks we like better than Apple Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally Rubrik’s AI Security Bet Could Power the Next Leg Higher Apple’s Foldable iPhone Could Be a Catalyst, But Not a Cure-All Snowflake Is Up Nearly 50% in 2026—What Are Short Sellers Betting Against?

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

John Ternus will step up as Apple's (AAPL) first new CEO in 15 years since Tim Cook took the position in 2011. Marley Kayden recaps Apple's legacy under Cook and the stellar rise the stock has seen under his leadership.