Apple · Fortune Technology
Tim Cook reveals the advice he gave Apple’s next CEO: The most important decision he’ll make is ‘where he spends his time’
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Apple’s incoming CEO introduced himself to Wall Street on Thursday, in a brief earnings-call debut in which John Ternus emphasized his commitment to continuity at the $4 trillion company.
Key facts
- Apple’s incoming CEO introduced himself to Wall Street on Thursday, in a brief earnings-call debut in which John Ternus emphasized his commitment to continuity at the $4 trillion company
- When Apple CFO Kevan Parekh provided a much stronger-than-expected revenue forecast for the current quarter, however, Apple shares sprang to life and rose more than 4%
- The iPhone remains the critical pillar that supports Apple’s business, representing over half of its $111 billion in revenue last quarter
- Ternus, who will officially replace CEO Tim Cook in September, promised to continue the “deep thoughtfulness, deliberateness and discipline” in financial decision making that has marked Cook’s
Summary
Ternus, who will officially replace CEO Tim Cook in September, promised to continue the “deep thoughtfulness, deliberateness and discipline” in financial decision making that has marked Cook’s 15-year tenure leading Apple, calling his predecessor “one of the greatest business leaders of all time.” He even showed off his proficiency with the Apple marketing playbook of secrecy-tinged hype, teasing that the iPhone maker is working on “an incredible roadmap” of products but that “you’re not going to get me to talk about the details of that roadmap.” Investors seemed to shrug at their introduction to the new boss—which may have been exactly how Apple wanted it.