“New Apple CEO John Ternus chalks up some early wins, but the honeymoon is over”

Key points

• John Ternus began as Apple's CEO and introduced himself during a quarterly earnings call.
• Apple beat earnings expectations but faced after-hours stock sell-off due to margins concerns.
• Memory chip shortages pressured costs and could squeeze gross margins in coming quarters.
• Apple's revamped Siri AI has not yet convinced investors of a strong AI-led growth path.
• Demand for the iPhone Duo is strong, but supply constraints may delay full rollout.