FinanceFortuneabout 1 hour ago
Ternus Takes Apple CEO Role as Margins Face Squeeze
5 min read
John Ternus replaced Tim Cook as Apple CEO during the company's fourth-quarter earnings call, highlighting a $600 billion four-year commitment to U.S. innovation and manufacturing supporting more than 450,000 American jobs. Apple reported a 47.9% September-quarter gross margin, but analysts expect memory chip shortages and rising costs to push December-quarter margins to between 45% and 46%.
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