- Apple gained 7% over the past month versus 1% for the Nasdaq-100 and rose 20% year to date versus 15% for the index, positioning the stock as a defensive trade during a technology sell-off.
- John Ternus replaced Tim Cook as Apple CEO, the company’s first leadership change in 15 years, ahead of the September 9 product event and fiscal Q4 earnings report.
- The September event puts Apple’s AI strategy under scrutiny as Microsoft, Alphabet and Meta advance AI agents and AI-native device initiatives.
- Options activity favors further upside, with call trading exceeding put activity and a move to $350 assessed as twice as likely as a decline to $250.