Tim Cook announced on Monday that he will be stepping down as CEO of Apple after a 15-year stint. John Ternus will take up the mantle from September 1, 2026, ushering the company into a new era. The entire company will soon be realigned to his vision and guide the mobile phone giant into a fresh chapter. Apple stock (NASDAQ: AAPL) is currently trading at $274, when Ternus took over the reins of the company.
Cook will transition into the position of Executive Chairman, ensuring continued knowledge sharing and decision-making. The resignation is not seen as abrupt and caused no shockwaves due to the transition period. The former CEO will allow the new CEO to get fully functional for the next four months before filling his shoes. The market likes predictability; therefore, Apple stock barely dipped after the announcement.
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Apple Stock Price Prediction After John Ternus Takes Over as CEO
Financial services company Wedbush Securities is confident that Apple stock will surge under the Ternus era. The firm wrote in a note to clients on the day of the announcement that Ternus is a “known quantity” who understands the hardware required to pivot Apple toward AI, rather than a disruption risk. His knowledge in the hardware space can fill in the gap with the engineering snag of the upcoming foldable iPhone.
Wedbush Securities gave Apple stock a buy rating with a new price target of $350. AAPL is currently trading at the $273 level, with the financial firm predicting profits of more than $75 per share. It is also close to 28% returns, showing remarkable confidence in Ternus. If the price prediction turns out to be accurate, an investment of $1,000 could turn into $1,280. That’s phenomenal returns as not every asset is equipped to deliver double-digit gains to traders.