Apple Rally Gives Ternus Early Momentum

Apple shares have reached a record high less than a month into John Ternus’s tenure as chief executive, giving the company’s new leadership an early market boost after its September product launch.

The stock touched $345 on Tuesday before closing at $339.75, taking its gain for the year to about 25 per cent. The rally has gathered pace since Apple unveiled its latest hardware line-up, led by the iPhone Duo, its first foldable smartphone.

Investor attention has centred on whether the new devices can support another strong upgrade cycle. The iPhone Duo, which opens into a larger display, will start at $1,999 when it reaches the market in late October, while higher-specification versions will cost more than $3,100. Apple has also raised prices across parts of the iPhone 18 range.

Early demand appears encouraging. Evercore ISI said first-week demand for the iPhone 18 was holding up well, although supply constraints may also be influencing availability. That response matters as Apple seeks to maintain hardware growth while developing a broader artificial intelligence strategy.

Ternus, formerly Apple’s head of hardware engineering, succeeded Tim Cook on 1 September. He inherits a company valued at more than $4 trillion, but also one facing pressure to show that its next phase of growth can extend beyond incremental device upgrades.

The share-price rally gives the new chief executive a favourable starting point, but it also raises expectations. Investors will now be watching whether enthusiasm around the foldable iPhone and the wider product cycle can translate into stronger sales, sustained margins and a clearer path for growth as Apple works to strengthen its position in artificial intelligence.