Tim Cook is stepping down as Apple’s CEO, with hardware chief John Ternus named as successor. Apple’s market value rose dramatically during Cook’s tenure, while recent results showed strong growth, record Services revenue, and an eighth consecutive EPS beat. Apple reported $111.184 billion in Q2 revenue, up 16.6% year over year, with double-digit growth across geographic segments. Services reached $30.976 billion. Apple also authorized a $100 billion buyback and increased the dividend. Cook’s work included rebuilding the China supply chain, negotiating tariff issues, and expanding Services into recurring revenue. Concerns remain about Apple’s AI progress, with recent developer conference messaging described as weaker than before.
"Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment."
"In Q2, Apple posted $111.184 billion in revenue, up 16.6% year over year, with double-digit growth across every geographic segment and an eighth consecutive EPS beat. Services hit a $30.976 billion record."
"Cook also blessed his exit with a $100 billion buyback authorization and a 4% dividend hike to $0.27."
"Apple's AI story is thin. At Apple's most recent developer conference there was "way less AI, way less Apple Intelligence than in the prior release.""
Read at 24/7 Wall St.
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