Apple Inc (NASDAQ: AAPL) stock is rising today, up 2.5% as of 1:41 p.m. ET, on Tuesday, Sept. 1, 2026, as John Ternus officially takes over for Tim Cook as CEO of the tech giant.

The S&P 500 and Nasdaq Composite are both down, sliding 0.7% and 0.9%, respectively.

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Today marks the first time in 15 years that a new CEO takes the reins. Not since Tim Cook stepped into the role, replacing Apple co-founder Steve Jobs, has the iPhone-maker transitioned its chief executive.

Investors should know that while Ternus now serves as CEO, Cook is not leaving the company. Instead, he will serve as Executive Chairman and continue helping with “certain aspects of the company, including engaging with policymakers around the world.” https://www.nbcnews.com/business/business-news/apple-ceo-john-ternus-tim-cook-rcna341096

What exactly that rather vague definition really means remains to be seen, but his continued presence seems to have helped reassure many investors worried about what happens next.

Cook leaves an incredible financial record at Apple. By FY 2025, Apple was generating more than $416 billion in annual revenue — about four times its sales when Cook began his tenure.

These are big shoes to fill, but I have faith in Apple’s future. I think the company is well placed to take advantage of AI without bearing most of the enormous costs.

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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.

Why Is Apple Stock Up Today? was originally published by The Motley Fool