Apple will report fiscal fourth-quarter results after Monday's close, the first earnings call for John Ternus as CEO since succeeding Tim Cook. Adam Johnson, portfolio manager of the Bullseye American Ingenuity Fund, says Cook turned Apple into a predictable cash flow machine by monetizing its services business, now more than a third of revenue each year, through small recurring charges. He describes Ternus as a hardware executive, the opposite of Cook, and argues that recent launches such as a touchscreen MacBook and a new home product suggest a return to new hardware. Johnson also says a decline of more than 7% in the stock does not mean the story is over. The open question is whether Apple can keep launching new products while still generating high profits as it did under Cook.
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AAPLJohn Ternusearningshardware
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Related tickers and likely impact
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/30/2026 | 344.79 |
| Change that session | -1.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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