TD Cowen Reiterates Buy Rating on Apple Following CEO Transition

TD Cowen analyst Krish Sankar reiterated a Buy rating and $325.00 price target on Apple (NASDAQ: AAPL).

“Apple announced the appointment of John Ternus, SVP of hardware engineering, as its next CEO. Tim Cook will facilitate the transition with Mr.

Ternus, who has been with the company for over 25 years, set to fully assume the CEO position on September 1, 2026.

Mr. Cook will become executive chairman during the transition, replacing long-time non-executive chairman, Arthur Levinson, who will be transitioning to lead independent director.

We view the promotion from within and leadership continuity as a positive for Apple following the long-term succession planning process.

As Apple faces potential disruptions from increasing consumer adoption of gen AI technologies, we believe leadership stability is key for achieving solid product execution and maintaining agility when competition in the edge AI device market remains strong.”

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