Apple Inc. has officially begun a new chapter in its leadership as John Ternus stepped into the role of Chief Executive Officer on 1 September 2026, succeeding Tim Cook, who had led the company for approximately 15 years.
Ternus rose through the ranks from his position as Senior Vice President of Hardware Engineering, where he played a key role in the development of some of Apple’s flagship products, including the Apple Watch, AirPods, and Vision Pro. Tim Cook, meanwhile, has transitioned into the role of Executive Chairman to help ensure a smooth handover.
According to a research note from Asia Plus Securities, the leadership change comes at a pivotal moment for Apple. The company has confirmed it will hold its next Apple Event on 9 September 2026 at 10:00 a.m. Pacific Time, under the theme “Surprise and Shine.” Markets are widely expecting the launch of a new iPhone lineup, with particular attention on a rumored foldable iPhone — a product that has drawn significant attention and speculation ahead of the event.
Analysts at Asia Plus Securities stated that the market will be watching closely to see what direction the new CEO takes the company, especially regarding artificial intelligence and new product development, as Apple has been viewed as trailing some of its AI competitors. The September product event marks Ternus’ first major showcase since assuming the CEO role.
Analyst Coverage and Valuation
As of the report date, AAPL US shares were trading at USD 325.13. Coverage among analysts tracked by consensus stands at:
- 34 analysts with a BUY recommendation
- 18 analysts with a HOLD recommendation
- 6 analysts with a SELL recommendation
The one-year target price for AAPL US stands at USD 331.02, implying limited upside from current levels, according to Bloomberg Consensus data. Based on this valuation picture, Asia Plus Securities has assigned a “HOLD” recommendation on the stock. The brokerage noted that if the new product lineup unveiled on 9 September exceeds expectations, there is room for the target price to be revised upward. However, if the launch fails to deliver a positive surprise, there is a risk of a “sell on fact” reaction following the event.
John Ternus’ First Letter to Apple Employees as CEO
Following his first day in the role, John Ternus sent the following note to Apple staff:
Team,
Today, on my first day as CEO, I just wanted to send a quick note to thank everyone for the warm wishes. I also want to extend my deep appreciation to Tim for sharing so much of his knowledge and experience during this transition, and more importantly, for everything he contributed to Apple over the years. We’re so lucky to have had a CEO who led with his values and with such decency and humanity. We are all better for it, and I’m so grateful he’ll be our executive chairman.
I’m honored to be stepping into this role at what is truly the greatest company in the world, and I am so excited about everything we have in store. We have a huge launch next week that’s going to be phenomenal. Thanks for everything you’ve all done to make it possible.
I’m just as excited about what lies beyond that, including the incredible products already in the works and the ones we haven’t even imagined yet that we’ll dream up and create together. There’s no team in the world I’d rather build the future with.
More to come. In the meantime, thanks for your excellent work!
John
