Apple Elevates Srouji to Hardware Chief as Ternus Named Next CEO

Apple promoted Johny Srouji to the new chief hardware officer role effective immediately, while naming John Ternus as next CEO starting September 1, signaling a hardware consolidation and in-house chip push for iPhones, Macs and AirPods. This builds on an initial announcement of Srouji expanding from hardware technologies to oversee engineering previously led by Ternus, refocusing on five key areas. AAPL traded at $273.05 (+1.04%) with a ~$3.97T market cap and 31.66 forward P/E, down 2% YTD; analysts see it as incrementally positive for AI and supply chain independence amid $600B U.S. investments.