Major Bank Rating | JPMorgan: Positive view on Apple SVP of Hardware Engineering succeeding as CEO, rating “Overweight”

Glonghui, April 21 — JPMorgan released a research report stating that John Ternus, Apple’s Senior Vice President of Hardware Engineering, will succeed Tim Cook as CEO. Cook will assume the role of Executive Chairman on September 1 and will continue to support communications and interactions with global policymakers. The bank’s view on this announcement is positive, as current market competition is fierce, with companies striving to develop smartphones and next-generation product forms, which are expected to become widely adopted carriers for artificial intelligence. Apple’s promotion of an executive focused on products and hardware to CEO is a highly significant arrangement. At the same time, Apple will also benefit from Cook’s leadership on global policy issues. The bank gives Apple an “Overweight” rating.