John Ternus prepares to take over as CEO of Apple

Summary

CNBC's MacKenzie Sigalos reports on Apple's CEO transition from Tim Cook to John Ternus. Cook is clearing tough business, policy, product, and personnel decisions before leaving, while Ternus will own the upcoming iPhone launch. The report highlights Apple's first foldable iPhone as potentially the biggest product design change in nearly two decades and a possible catalyst for Apple's biggest product cycle in over a decade.

• Tim Cook is clearing tough business and policy decisions before handing over the CEO role.
• Apple raised Apple TV+ streaming prices again in Cook's final days.
• Apple cut AI and software engineering jobs in Silicon Valley and pushed incremental hardware/M-chip updates.
• John Ternus, a 25-year Apple veteran from hardware, will lead the September 9 iPhone launch.
• An Apple link leak previewed the first foldable iPhone, a major design change.
• The lower-cost MacBook Neo has been a strong seller and brand reviver.