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Tim Cook to step down Sept. 1 as John Ternus takes over

In a recent earnings call, Tim Cook warned that higher memory chip prices could pressure Apple product pricing even as the company targets cost reductions elsewhere.

Sunday, August 9, 2026 · Written up by our desk · Previews

Apple CEO Tim Cook will step down on Sept. 1 and remain on the board, with John Ternus taking over the role, according to Yahoo Finance.

The article points to concerns Cook raised on the last earnings call about rising memory chip prices, describing the situation as unusually severe and noting that Apple has already increased prices on some products.

It also says the company is working to reduce costs on other components to offset the chip-related pressures, but that additional price increases could strain consumers if memory prices keep climbing.

Yahoo Finance adds that Apple’s valuation reflects high expectations, with the stock trading at about 35 times earnings compared with roughly 25.2 times for the S&P 500 on trailing results.

Latest closeS&P 500 7,709.96 ▼0.2%

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