On Monday, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook said in a post on X that he is “sending lots of love to the Apple community on my last day as CEO.”
“My title changes tomorrow, but the love I have for the Apple community never will. Thank you for being a constant source of inspiration. My gratitude is endless, and I’m excited for the next chapter!” Cook added.
John Ternus Takes Over as Apple CEO
John Ternus will assume the role of CEO, following a transition plan similar to Jeff Bezos‘ handoff to Andy Jassy at Amazon. Ternus, who has been with Apple for 25 years, will benefit from Cook’s continued presence as executive chairman.
Cook’s ongoing involvement is expected to help Ternus navigate challenges in AI, talent retention and next-gen products, as noted by Bloomberg columnist Mark Gurman on Monday.
Jim Cramer Trusts Cook’s Endorsement
Jim Cramer expressed confidence in Apple’s future under Ternus, citing Cook’s endorsement as a key factor. On CNBC’s “Mad Money” Friday, Cramer stated that while he doesn’t know Ternus personally, he trusts Cook’s judgment.
He recommended holding Apple stock, emphasizing Cook’s consistent reliability as a guiding force for the company. Cramer also highlighted Apple’s upcoming “Surprise and Shine” event on Sept. 9, which will be Ternus’ first major public appearance as CEO.
Technical Analysis
Apple’s RSI stands at 50.3, indicating a neutral position. The stock trades 0.35% above its 50-day SMA of $312.31 and 10.82% above its 200-day SMA of $282.79. The 50-day SMA is currently above the 200-day SMA.
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