S&P 5007,631.47▼0.7% Nasdaq26,099.77▼1.0% Dow52,766.88▼0.8% Russell 2K2,920.13▼1.2% 10-Yr4.80%+4bp VIX16.34+1.42 WTI$90.79▲5.9% Gold$4,376.80▼1.2% EUR/USD1.160▼0.2% BTC$77,352▼1.5% Nikkei66,312▲0.3%
At close · Wed, Sep 2, 2026
Daily Market Updates.

Global Markets

HomeGlobal MarketsNorth AmericaJohn Ternus becomes Apple CEO, succeeding Tim Cook aft…

John Ternus becomes Apple CEO, succeeding Tim Cook after 15 years

The transition comes as Apple works to catch up in artificial intelligence and manage policy and supply-chain pressures tied to Trump’s trade and tariff actions.

Apple has named John Ternus as its new chief executive officer, taking over on Tuesday and ending Tim Cook’s 15-year tenure, according to the Associated Press as carried by SCMP Economy. During Cook’s time at the helm, Apple’s value rose to about US$4.6 trillion, driven by the iPhone’s popularity.

The change arrives at a pivotal moment for Apple as artificial intelligence reshapes the tech industry. SCMP Economy notes that Apple has had a difficult start in AI after missing efforts to deliver promised features built on the technology, though it later announced upgrades to Siri earlier this year with an emphasis on privacy and everyday use.

Ternus is expected to face challenges that extend beyond AI product development. The coverage says he will likely need to address hardware engineering outside his comfort zone, while also navigating supply chain questions and relationships involving US President Donald Trump.

SCMP Economy adds that Cook, while stepping down as CEO, is widely expected to help Apple maintain a positive relationship with Trump after shifting to an executive chairman role, in part due to ties he cultivated while the company navigated business challenges including Trump’s trade and tariff war targeting parts of Asia where Apple manufactures.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.