Apple Nears $280 on Q2 Record, AI Mega-Deal Rumors as Ternus CEO Shift Nears

Apple shares hover near $280.14 after blockbuster Q2 earnings: revenue up 16.6% to $111.18B, EPS $2.01 beat, iPhone +22% to ~$57B, Services $30.97B, gross margins 48.4%, plus 4% dividend hike and $100B buyback. Management revealed capital pivot—halving buybacks, 34% R&D boost for AI, ending 'net cash neutral'—ahead of Tim Cook's Sept. 1 exit to executive chair, with John Ternus taking CEO helm. Story ignited March 13 with Cook's step-down announcement, Ternus named April 21 amid brief $273-to-$271 dip; April 30 call confirmed transition amid earnings beat, May 3 detailed strategy shift, May 4 spotlights rumored AI mega-deal.