John Ternus formally became Apple's CEO on September 1, succeeding Tim Cook and inheriting a $4.75 trillion company with shares up 19.92% year to date and quarterly revenue at a record $109.4 billion. Ternus, with 25 years in product development, faces the challenge of monetizing AI through hardware, as Siri AI's European Union rollout is blocked by the Digital Markets Act and memory costs surge. Apple's Q3 FY2026 revenue rose 16% year over year, with iPhone sales up 22% to $54.3 billion and Mac up 29%, while services revenue hit $30.7 billion at a 75.6% gross margin. Cook remains as advisor into 2028 or 2029, and Ternus has $147 billion in cash and a $30 billion Broadcom silicon deal to support his agenda.
Apple Inc.New CEO faces AI monetization challenges; Siri EU rollout blocked by DMA and memory costs surge.
Broadcom IncApple has a $30 billion Broadcom silicon deal to support AI agenda.
Applovin Corp