Tim Cook’s last earnings call comes at momentous time for Apple with stock at record - CNBC

What the report says

CNBC reported that Apple CEO Tim Cook is set to lead his final earnings call as head of the iPhone maker in the same week the company briefly crossed a $5 trillion market value and overtook Nvidia as the world’s most valuable company. The call follows a 25% rise in Apple’s stock this year, according to the report, and comes ahead of Cook’s planned Sept. 1 move to executive chairman. John Ternus, Apple’s longtime hardware chief, is slated to become CEO.

The report said investors are expected to focus less on the milestone valuation and more on Apple’s operational and strategic pressures. CNBC cited a global memory shortage and tight chip-manufacturing capacity as factors behind recent price increases for iPads and Macs, including at least $100 on starting prices for some models. Analysts cited by CNBC expect pressure to extend to iPhones, while Apple has also announced a U.S. iPhone leasing option with Klarna starting at $17.99 a month.

CNBC also highlighted artificial intelligence as a longer-term concern. Apple has not yet launched its redesigned Siri to the public, though CNBC said a beta version was released in June and a broader launch is expected alongside new iPhones in the fall. The company has relied on outside AI partners, including Google, while a prior OpenAI partnership has deteriorated; CNBC reported Apple sued OpenAI on July 10 alleging trade secret theft, which OpenAI denied.

The transition matters because Cook’s 15-year tenure brought a major expansion in Apple’s market value and more than $1 trillion in stock buybacks, while Ternus inherits questions over pricing, supply constraints and Apple’s position in the fast-moving AI market.