Apple's CEO change, announced by John Ternus, a senior vice president of hardware engineering, will replace Tim Cook on Sept. 1. Cook will become executive chairman after about 15 years as CEO. Despite the surprise announcement, Apple shares have fallen around 0.5% in extended trading and could potentially drag the tech giant into the red for 2026. TERNus' selection suggests that Apple sees its future tied to products like glasses or a foldable smartphone, according to Gil Luria, head of technology research at DA Davidson. Expecting big hires from AI-focused firms like Anthropic and OpenAI, but Munster and other investors don't see the company competing with large-language model makers. The end of Cook's tenure shows his political swagger in the face of President Donald Trump's tariffs. However, the timing of this change could make sense but could potentially lead to a "hangover" in the company's future.