John Ternus assumes role as Apple CEO as company prepares for major product launch

This event is expected to include a new lineup of products, potentially featuring a foldable iPhone, which could expand the company's market share in a smartphone category that currently only accounts for 2% of the market. Apple's financial performance remains robust despite economic headwinds and tariffs. In the third quarter of its fiscal year 2026, the company reported a 16% year-over-year revenue increase to $109.4 billion, with earnings per share rising 29% to $2.02. The company maintains a massive user ecosystem of over 2.5 billion devices, providing significant opportunities for monetization through its high-margin services segment. Furthermore, Apple possesses substantial free cash flow, which allows for continued investment in research and development, particularly in areas like artificial intelligence, while maintaining shareholder rewards through buybacks and dividends.