Apple reports quarterly earnings today under new CEO John Ternus
Apple faces Wall Street today under new CEO John Ternus.
The short version
- The Tech giant's stock traded around $345 ahead of the results.
- Higher memory costs and pricier new phones squeeze consumer spending.
- Apple shares are up 26.8% so far this year.
Apple is set to report quarterly results on Monday, marking the first earnings call under new CEO John Ternus after Tim Cook’s 15-year tenure in the role. Ternus, formerly Apple’s senior vice president of hardware engineering, took over as CEO in September.
The results arrive after Apple reclaimed the title of world’s largest company on Friday, spared from a wider Tech sector selloff due to its disciplined approach to artificial intelligence spending. According to MarketWatch, analysts expect questions on artificial intelligence capabilities, faster product rollouts, and the impact of price increases.
Apple recently raised prices on some iPhone models by $100, while a MacBook Air now starts at $1,299 compared to $999 a year ago. The company also rolled out the new foldable iPhone Duo, which costs between roughly $2,000 and $3,000, though early rollouts hit some snags with app optimization and screen durability issues.
William Kerwin, an analyst at Morningstar, noted that Ternus would likely offer continuity while focusing on a plethora of new product launches like the iPhone 18, iPhone Duo, and a touch-screen MacBook Pro. Apple is also breaking from convention by reporting earnings on a Monday for the first time since 2015.
Apple’s stock is up 26.8% so far this year and traded around $345 on Friday. Wall Street will be watching closely to see how the world's most valuable company navigates higher memory-chip costs and shifting consumer spending habits.
Photo: Apple
