On the eve of Apple CEO Tim Cook’s final earnings call during his tenure, the company’s market capitalization surpassed $5 trillion for the first time.
On the eve of Apple CEO Tim Cook’s final earnings call, the company’s market capitalization surpassed $5 trillion for the first time, overtaking NVIDIA to become the world’s most valuable company.Cook will step down as CEO on September 1 to become executive chairman, with John Ternus, head of hardware, taking over as CEO. During the call, Cook will need to address issues such as memory shortages, rising device prices due to chip supply constraints, and the company’s lag in the field of artificial intelligence (AI).Apple has recently raised prices on some iPad and Mac models by at least $100 due to memory shortages, and analysts expect iPhone prices to rise this year as well. Additionally, on July 10, Apple filed a lawsuit against its former AI partner OpenAI, alleging the theft of trade secrets, but OpenAI has denied the allegations.The company has also recently adjusted its cash policy, which may free up more funds for AI investments.
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