Apple’s stock drops as new CEO John Ternus delivers his first earnings call
Apple reported better-than-expected top and bottom line results under new CEO John Ternus, who assumed the role on September 1, replacing Tim Cook. However, the company's iPhone sales underperformed market expectations, and management's forward-looking guidance was weaker than anticipated. The mixed earnings report triggered a decline in Apple's stock price in after-hours trading.
Key points
- New CEO John Ternus delivered first earnings call on September 1 successor to Tim Cook
- Overall earnings beat expectations on revenue and profit
- iPhone sales and forward guidance disappointed the market
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. SiliconANGLE did the reporting; read the original for the full story.
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