FINWIRES · TerminalLIVE
FINWIRES

Apple's Incoming CEO Faces Crucial AI Test, Wedbush Says

By

Apple's (AAPL) incoming CEO, John Ternus, needs to get the company's AI strategy right and sharpen its approach to turning that technology into new revenue streams, Wedbush Securities said Tuesday in a report.

Apple's software and services growth depends on its "unrivaled" installed base, and innovation around foldable devices, an AI-enabled iPhone, and more affordable Apple Glasses will be central to the company's next chapter, the report said.

Ternus is expected to bring in more outside innovation, and a shift away from Apple's historically cautious stance on mergers and acquisitions will be important, Wedbush said.

"Apple has more cash, consumers, and brand recognition than any company in the

world," the report said. "Now is the time to flex the muscles and go on the offensive instead of the defensive."

Tim Cook is stepping down as CEO and will become executive chairman, effective Sept. 1. Ternus currently is senior vice president of hardware engineering.

Wedbush maintained its outperform rating on Apple stock with a $350 price target.

Price: $266.22, Change: $-6.83, Percent Change: -2.50%

Related Articles

Wire

IDP Education to Introduce Malaysia as Study Destination

IDP Education (ASX:IEL) expanded its range of study destinations by supporting students to study in Malaysia, according to a Tuesday statement.The company cited changing student preferences as a reason for the move, with growing demand for new destinations offering strong education quality, career outcomes, and affordable study options.The initial rollout will focus on a select number of markets as part of a phased pilot.IDP Education's shares declined 1% in recent trading on Tuesday.

ASX:IEL
Wire

Infratil Says Moody's Assigns CDC Data Centers 'Baa2' Rating, Stable Outlook

Infratil (NZE:IFT, ASX:IFT) said Moody's Ratings has assigned CDC Data Centers Australia its first public investment grade credit rating of "Baa2" with a stable outlook, according to Tuesday filings with the Australian and New Zealand bourses.The rating reflects CDC's strong financial position, stable long-term contracted revenues, and exceptionally long lease durations averaging 28.4 years, per the filing.The rating will enable CDC to improve access to capital markets, supporting further large-scale infrastructure development driven by rising demand from government, hyperscale cloud providers, and critical industries, the filing added.The company's Kiwi shares shed 1% in recent Tuesday trade.

ASX:IFTNZE:IFT
Wire

Spruce Biosciences Begins Public Offering of Stock, Prefunded Warrants; Shares Fall After Hours

Spruce Biosciences (SPRB) said late Monday it commenced an underwritten public offering of common shares or related prefunded warrants.The company expects to grant underwriters a 30-day option to buy up to 15% more stock at the public offering price, less underwriting discounts and commissions.The offering is subject to market and other conditions, Spruce said.Spruce shares fell 13% in after-hours trading.

$SPRB