Ternus tells Apple employees a ‘huge launch’ is coming next week

Summary

CNBC's MacKenzie Sigalos reports on John Ternus's first day as Apple CEO and the immediate challenges he inherits, including tough iPhone comparisons, slowing services growth, rising memory costs, AI platform threats, and an OpenAI legal fight. She highlights Apple's flagship hardware event next week, where an OS leak points to a possible foldable iPhone. The report frames the event as a high-stakes test for the new hardware-focused CEO.

• Apple shares are higher as John Ternus takes over as CEO.
• Apple faces tough comparisons after the iPhone 17 supercycle and slowing services growth.
• Rising memory costs squeeze margins and create iPhone pricing trade-offs.
• AI agents and rival AI-native devices threaten the iPhone's central role.
• Apple is in an escalating legal fight with OpenAI over hardware trade secrets.
• The flagship hardware event is in eight days; an OS leak hints at more than ten unannounced devices including a foldable iPhone.
• John Ternus sent a staff letter ahead of the launch.