New Apple CEO John Ternus chalks up some early wins, but the honeymoon is over
Source: Fortune ·
Apple beat earnings expectations Monday, but it’s facing surging memory chip costs and investor questions about its new Siri AI product.
From the source
John Ternus, Apple’s new CEO, has spent the first two months in his new post celebrating a batch of new products, particularly the release of the foldable iPhone Duo. On Monday, the 51-year-old executive introduced himself to Wall Street for his first quarterly earnings call. The reception was not so friendly. While Apple beat September-quarter earnings expectations, investors traded the stock down in after-hours trading due to the company’s outlook on margins, which it said will continue to be squeezed by a shortage in memory chips, and slowing growth in its Services segment without a clear answer to how that may rebound. The $4.9 trillion company has also attempted to tell its AI story through its revamped Siri AI product, but investors don’t seem convinced yet that Apple has the winning formula for the AI age. On the call with analysts following earnings, Ternus fielded some questions but also delegated answers to Chief Financial Officer Kevan Parekh and Chief Operating Officer…
BestAIBroker analysis
- Finance-aware sentiment: slightly negative (-0.25 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 33/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: AAPL.