Apple's First iPhone Under New CEO John Ternus Launches Sept. 9. Here's Whether It's Finally Time to Buy the Stock.

Apple's new CEO John Ternus officially took the reins on September 1, succeeding Tim Cook after a span of 15 years at the company's helm. Steve Jobs had been leading Apple since the 1990s. The late tech pioneer's legacy lives on as Ternus prepares to introduce the company's latest lineup of iPhones, foldable smartphones, and other devices at a Sept.

9 event dubbed "Surprise and Shine". Analysts believe this new era could mark a turning point for Apple's stock, which has been on an upward trajectory since April. The company's June quarter saw a 16% year-over-year revenue increase and a 27% rise in earnings. iPhone sales, meanwhile, jumped 22%, reaching $54.2 billion. Despite a potential 2.5% sales slowdown due to foreign exchange rates and supply constraints, analysts anticipate mid-teens year-over-year growth for iPhone sales.

The introduction of the rumored foldable iPhone and the more expensive iPhone 18 Pro and Pro Max models are expected to boost sales in the December quarter and beyond. Morgan Stanley analysts rate Apple stock as a "buy" with a $360 per share price target, suggesting around 9% upside from the current $330 per share price. However, some "sell the news" action could occur when weaker September-quarter results are released in October.