Apple’s ‘pay targets’: $48 million for Ternus and $47 million for Tim Cook

John Ternus became Apple's CEO, succeeding Tim Cook. He faces challenges in AI, China dependence, and political pressures. Apple plans to unveil its first foldable iPhone on September 9. Ternus' base salary is $3 million, with potential stock options increasing compensation to $58 million in his first year, according to a securities filing.

Apple disclosed in a SEC filing that new CEO John Ternus will receive a $58M pay package, including $3M base salary and $55M in stock awards. Tim Cook, as executive chairman, will earn $47M, with $2M base salary and $45M in stock awards. Both packages include performance-based and time-based components.

Tim Cook is stepping down as Apple CEO after 15 years, with John Ternus, Apple's senior vice president of hardware engineering, succeeding him. Cook oversaw significant growth, including a 20-fold increase in stock price and $4.7 trillion market value. Apple is set to launch its first foldable iPhone next week. Industry experts praise Cook's legacy and speculate on Ternus's future leadership.

John Ternus has become Apple's CEO, facing his first major test with the upcoming iPhone launch. Rosenblatt raised its price target to $303, implying 4% downside. Apple reported record revenue of $109.4B and EPS of $2.02 for Q2. Analysts highlight AI and innovation as key challenges for Ternus.

Crude oil prices rose to $85.58 due to Middle East tensions, while S&P 500 profits increased 53% YoY in Q2. Fed Chair Warsh's speech raised expectations for a September rate hike to 64%. Apple's Tim Cook to step down as CEO, with John Ternus taking over.

Apple's new CEO, John Ternus, takes over as the company faces AI challenges. Chevron is expected to expand operations in Venezuela, according to a U.S. official.