Apple (AAPL) Shares Drop 2.5% as CEO Tim Cook Steps Down
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowApple (AAPL) shares fell 2.5% on April 21 following the announcement that CEO Tim Cook will be replaced by John Ternus on September 1. The company is scheduled to report its fiscal Q2 earnings on April 30. In its last earnings report, Apple saw iPhone revenue reach $85.27 billion, a 23% year-over-year increase, and iPhone sales constitute nearly 60% of total revenue. Morgan Stanley has reiterated its $315 price target for Apple, citing strong expected performance from iPhone sales despite pressures from rising memory costs that may affect gross margins.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Apple Inc. (AAPL)
Apple designs and sells consumer electronics: the iPhone, Mac, iPad and Apple Watch. It also runs a fast-growing services business spanning the App Store, iCloud and Apple Pay.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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