Apple (AAPL.US) announced a major leadership transition after market closed on Monday (20th), BofA Securities issued a research report saying. Tim Cook will become Executive Chairman of the Board, while John Ternus, currently senior vice president of Hardware Engineering, will succeed as CEO, effective 1 September 2026.
The broker believed that the move signals positively for Apple's long-term vision, as Ternus has worked at Apple for more than 20 years and previously led hardware development across iPhone, iPad, Mac, Apple Watch, AirPods and Vision Pro.
BofA Securities viewed Cook's continuation as Chairman and his ongoing engagement with global policymakers as a positive sign for a smooth transition.
2027 will mark the 20th anniversary of iPhone and could be a big product year, BofA Securities added. The broker estimated the transition to proceed smoothly, similar to Apple's previous senior leadership changes. Therefore, BofA Securities kept rating at Buy on Apple, with a target price of US$325.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| APPLE (C) |
10079 |
320 (-) |
0.027 |
16.4 X |
| APPLE (C) |
11132 |
300 (-) |
0.199 |
7.8 X |
| APPLE (P) |
11063 |
248 (-) |
0.222 |
5.7 X |
