Apple Names John Ternus CEO Ahead of September Event

Apple has announced a major leadership transition as John Ternus succeeds Tim Cook as chief executive on September 1. Ternus, formerly the senior vice president of hardware engineering, will oversee the company's annual fall product event scheduled for September 9 at the Steve Jobs Theater in Cupertino, California. Tim Cook will transition to the role of executive chairman of the board of directors, while board chairman Arthur D. Levinson moves to lead independent director.

The upcoming keynote is expected to feature the debut of Apple's first foldable iPhone, which analysts suggest may include a 5.5-inch outer screen and a 7.8-inch inner display. The device is projected to cost over $2,000, aligning it with competitors like the Samsung Galaxy Z Fold 8. Apple is also expected to introduce updated iPhone 18 Pro and Pro Max models powered by the A20 Pro chip and other AI-powered devices.

In a separate move, Apple refreshed its Mac desktop lineup with new Mac mini and Mac Studio models. The Mac Studio now utilizes M5 Max and M5 Ultra chips, while the redesigned Mac mini offers M6 or M5 Pro options. Apple noted that price increases for these machines result from rising component costs linked to the global demand for AI data center memory chips.