Apple Announces New CEO and Upcoming Product Launch
John Ternus has been appointed as the new CEO of Apple (NASDAQ: AAPL), succeeding Tim Cook on September 1, 2023, after Cook’s 15-year tenure. Ternus’ inaugural major event will take place on September 9, where he is expected to unveil the iPhone 18, including the Pro and Pro Max models, as well as a new foldable smartphone, potentially named the iPhone Ultra.
Apple’s revenue for the last quarter reached nearly $109 billion, up 16% year-over-year, with iPhone sales increasing by 22% to $54.2 billion. Looking ahead, analysts predict weaker growth for the September-ending quarter, estimating sales growth between 9% to 11%, largely due to foreign exchange impacts and supply constraints. The new foldable iPhone could generate an estimated $14 billion in revenue for the December quarter, with retail prices expected to exceed $2,000.
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