Apple CEO Transition Scheduled for September Amid Strong iPhone Revenue and New Product Launches
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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.”
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CNBCThe memory conundrum will soon fall in the lap of incoming CEO John Ternus, Apple's longtime hardware boss who is succeeding Cook at the help in September.
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The iPhone remains the critical pillar that supports Apple’s business, representing just over half of its $111 billion in revenue last quarter. Cook said demand for the smartphone was robust in virtually every geographic market in the first three months of the year despite challenges obtaining sufficient supply of the processors inside the devices.
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BBC BusinessApple has seen demand for its iPhone reach new heights with sales growth in China outpacing all other regions.
CNBCThat's why it was such a big topic on Apple's call. Cook said Apple's revenue growth of 17% for the fiscal second quarter exceeded its guidance "despite supply constraints."
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Apple has so far largely avoided price hikes. In March, the company announced a number of new products, including its iPhone 17e, a refreshed iPad Air laptop with an M4 chip in 11-inch and 13-inch sizes. It also unveiled the MacBook Neo, a low-cost laptop that Cook admitted had even higher demand than he expected.
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BBC BusinessHowever, Cook told financial analysts on a call to discuss the company's performance that the new Macbook Neo was seeing "off the charts" demand. He said the quarter set a record for new Mac buyers thanks to the Neo, which is sold at a significantly lower price than other Mac laptop computers.
4 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Fortune Good morning. Apple Inc., CEO Tim Cook opened the company’s earnings call Thursday by marking his 28th anniversary at Apple, his 15th year as CEO, and his 89th earnings call—reflective moments as he prepares to leave the CEO role.
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02 CNBC The global memory crisis played an outsized role in tech earnings season, which hit an apex this week. Apple CEO Tim Cook warned it's just the beginning.
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03 Financial Times John Ternus pledges to continue ‘deliberateness and discipline’ in first comments since being named next CEO
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04 BBC Business Overall, sales of Apple products grew 17% to $111bn (£81bn) in the first three months of the year, compared to the same quarter a year ago, the company said in financial results released Thursday. Sales in China were up by 28% compared to a year ago.
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- ft
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- cnbc