#john-ternus

Apple dropped its 7-year 'net cash neutral' policy. Ternus is freeing up the balance sheet for AI.

Mark Gurman's May 3 Power On reads Apple's quiet capital-allocation shift as cover for John Ternus to spend more on AI infrastructure and acquisitions, less on buybacks.

Apple·last month

Apple booked $111.2B in Q2 with Ternus on the call. Cook warned about RAMageddon.

Apple posted record Q2 revenue of $111.2B (up 17%). John Ternus joined his first earnings call as named CEO. Cook warned AI memory costs will hit Apple's June quarter.

Tim Cook and John Ternus on stage at Apple Park.

Apple·2 months ago

Tim Cook is stepping down. John Ternus is Apple's next CEO, effective September 1.

Apple confirmed John Ternus will become CEO on September 1, 2026. Tim Cook moves to executive chairman after 15 years running the company.