Apple just posted a 17% sales increase for the quarter, and iPhones are doing the heavy lifting. The company's flagship product continues to drive growth even as the broader tech market stays choppy.
The bigger story might be who was on the earnings call. John Ternus, Apple's incoming CEO, spoke publicly to investors for the first time since his promotion was announced. He takes over in September when Tim Cook steps aside.
Ternus has been leading hardware engineering at Apple, so he knows the product side cold. But this was his debut in the investor relations spotlight, a very different arena than building devices.
For anyone watching AI development, Apple's hardware strength matters. The company has been weaving AI features into iOS and building custom silicon optimized for on-device processing. Strong iPhone sales mean a growing installed base for whatever AI tools Apple ships next.
The leadership transition also comes at a pivotal moment. Apple is playing catch-up in the generative AI race compared to Microsoft and Google, and Ternus will inherit that challenge along with the CEO role.
