Apple Inc. shares rose 3% on the first day of its leadership change, closing up 2.61%, as new CEO John Ternus took over from Tim Cook. In his first letter to employees, Ternus promised an 'extraordinary' launch next week, adding that he is excited about the future products in development and those yet to be imagined. Cook stepped down as CEO on September 1, 2026, and became executive chairman, remaining with the company. Ternus, previously head of hardware engineering, now leads the tech giant. The market reacted positively to the orderly transition, driving the stock price higher.
Apple Inc. shares jumped 3% on Tuesday, the first trading day after the company announced a CEO change. The stock closed 2.61% higher, according to data from BIT(bit.com).
The rally came after John Ternus, formerly head of hardware engineering, took the helm as CEO, replacing Tim Cook who became executive chairman. In his first message to employees, Ternus revealed that a major product launch is scheduled for next week, describing it as 'extraordinary.' He also expressed excitement about future products in development and those not yet imagined.
Cook stepped down on September 1, 2026, after a long tenure, but remains with Apple as executive chairman. The market welcomed the news, driving the stock price up on the day of the leadership change.
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