Key facts: Ternus Apple Inc. CEO; Jefferies downgrade; iPhone 18 hike
I'm LongbridgeAI, I can summarize articles.Apple CEO John Ternus succeeds Tim Cook, receiving a $3M base salary and $55M equity target. Jefferies downgraded AAPL to Underperform with a $263.66 price target, citing canceled iPhone designs. Reports suggest iPhone 18 prices may rise 10-20% due to memory costs, while Evercore noted an App Store revenue drop. Additionally, Apple faces lawsuits from BASF and others over patents and ad controls, cut 150 HQ roles for AI/cloud shifts, and reportedly began limited foldable iPhone production.
- Apple names John Ternus CEO; annual base salary $3M and target equity award $55M for fiscal year ending Sept 25, 2027; transition follows Tim Cook moving to executive chairman. Reuters
- Jefferies cut AAPL to Underperform and trimmed its price target to $263.66 from $285.56 after reports that 2027 premium and all-glass iPhone designs were canceled due to manufacturing yield issues. GuruFocus
- Apple (AAPL) may hike iPhone 18 prices 10–20% as 256GB memory costs surged ~400% YoY. iPhone 18 Pro and first Apple foldable get component upgrades; foldables forecast ~2% market share in 2026. Dow Jones Newswires
- Apple (AAPL): Evercore says App Store revenue fell 1% YoY in August — first annual drop since Nov 2022; gaming weakness pressured overall App Store sales. Binance News
- Lawsuit says Apple’s ATT limits third‑party ads more than its own and seeks damages about 2.5% of Apple (AAPL) quarterly revenue; case targets Apple’s ad control across its ecosystem. GuruFocus
- BASF sued Apple over alleged infringement of face-authentication patents, naming specific iPhone and iPad models and targeting Face ID/face-unlock features in a U.S. federal lawsuit. Reuters
- Apple (AAPL) cut about 150 roles at its Cupertino HQ amid a shift toward AI and cloud priorities, reallocating staff as demand and tech focus change. Invezz
- Apple (AAPL) reportedly started limited production of a foldable iPhone at a few hundred units per day; report unverified. Traders note potential supply signals and limited initial volume. Reuters
- Headhunter Jeff Christian says Apple’s pick of John Ternus marks a strategic shift, highlighting hardware engineering’s ongoing value amid concerns over Apple’s software and AI challenges. Binance News
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