Apple CEO Tim Cook is set to step down as CEO in September, with the appointment of hardware engineering lead John Ternus taking over. The company surpassed expectations with $111.2 billion in revenue, a 17% increase from the previous year, and IPhone revenue of $57 billion, up 22% from the year before. This indicates the pressure Ternan will face to grow Apple's core products while creating new ones. Ternon outlined his approach as CEO based on what he's learned from Cook. Apple also revealed that businesses are using the Mac for AI uses, including building and running agents. The firm anticipates supply constraints in the June quarter due to increased AI-driven demand for the Mac Mini and Mac Studio.