{
  "id": 17880021,
  "title": "Apple’s stock drops as new CEO John Ternus delivers his first earnings call",
  "url": "https://urgent.news/2026/11/02/apples-stock-drops-as-new-ceo-john-ternus-delivers-his-first-earnings",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T23:58:33.000Z",
  "source": {
    "name": "SiliconANGLE",
    "slug": "siliconangle",
    "url": "https://siliconangle.com/2026/11/02/apples-stock-drops-as-new-ceo-john-ternus-delivers-his-first-earnings-call/"
  },
  "original_language": "en",
  "account": "Apple's stock declined following its first earnings call since John Ternus became CEO on September 1, as the company met financial expectations but fell short of projections in some areas. Ternus reported a per-share earnings of $2.10, surpassing the expected $1.99, while revenue grew by 12% to $114.48 billion, slightly above the $113.39 billion forecast. Net income for the quarter reached $30.71 billion, up from $27.46 billion a year prior. Ternus took over from Tim Cook, inheriting high expectations following the legacy of Steve Jobs and Tim Cook. Despite having a premium valuation of around 36 times next year's expected earnings, investors have been attracted to Apple due to its capital efficiency and strong position in the AI boom. However, Apple has faced criticism for its lackluster AI performance, particularly its Siri AI chatbot, which has been deemed unimpressive compared to newer autonomous AI agents. Ternus revealed that Apple has opportunities for monetization through AI but declined to disclose future plans. The iPhone division showed impressive results, with $57.58 billion in revenue, marking a 17% increase year-over-year, and exceeding forecasts. However, the Mac division experienced a significant decline of over 10% in sales, while the iPad division also underperformed.",
  "summary": "Apple Inc. just delivered its first earnings call since new Chief Executive John Ternus took over the company from Tim Cook on Sept. 1, and the results beat expectations on the top and bottom lines. But the company missed expectations on iPhone sales and offered disappointing guidance going forward, and the stock fell in late […] The post Apple’s stock drops as new CEO John Ternus delivers his…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "AppleInsider",
        "title": "John Ternus enthuses about Apple's future on his first earnings call",
        "url": "https://urgent.news/2026/11/02/john-ternus-enthuses-about-apples-future-on-his-first-earnings-call",
        "published": "2026-11-02T22:34:53.000Z"
      },
      {
        "outlet": "Semafor",
        "title": "Apple beats revenue estimates in CEO Ternus' first earnings call",
        "url": "https://urgent.news/2026/11/02/apple-beats-revenue-estimates-in-ceo-ternus-first-earnings-call",
        "published": "2026-11-02T22:44:37.000Z"
      },
      {
        "outlet": "Guardian Business",
        "title": "Apple posts stronger-than-expected revenue in first earnings report for new CEO John Ternus",
        "url": "https://urgent.news/2026/11/02/apple-posts-stronger-than-expected-revenue-in-first-earnings-report",
        "published": "2026-11-02T23:07:49.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "S&P 500 futures are flat as investors weigh Apple earnings; U.S. midterm elections loom: Live updates",
        "url": "https://urgent.news/2026/11/02/s-p-500-futures-are-flat-as-investors-weigh-apple-earnings-u-s",
        "published": "2026-11-02T23:47:39.000Z"
      },
      {
        "outlet": "Winnipeg Free Press",
        "title": "Apple posts stronger-than-expected Q4 revenue in first earnings report for new CEO John Ternus",
        "url": "https://urgent.news/2026/11/03/apple-posts-stronger-than-expected-q4-revenue-in-first-earnings",
        "published": "2026-11-03T00:44:57.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}