Tim Cook to deliver final earnings call as Apple CEO before handing over leadership to John Ternus
Tim Cook will lead Apple's final earnings call as chief executive before transitioning leadership to John Ternus on September 1. The company is expected to report revenue of approximately $108.8 billion, a significant increase from the $94 billion reported a year ago. While Apple has outperformed its 'Magnificent Seven' peers this year, the company faces challenges from a global memory crunch that has already forced price hikes on Macs and iPads. Analysts expect potential iPhone price increases in September as the company grapples with rising hardware costs. Despite these pressures, Apple has maintained strong performance in China, where it has gained market share while competitors have raised prices. Investors are also closely watching Apple's AI strategy, specifically its partnership with Google to license technology rather than investing heavily in infrastructure. The upcoming report will provide critical data on how the company manages rising costs and maintains its growth trajectory under the leadership of Tim Cook.