Apple Inc. (AAPL.US) After the leadership change, salary details are revealed! Turnas has a target annual salary of $58 million, while Cook, stepping back, still earns $47 million.

Apple Inc. (AAPL.US) announced that the compensation plan for its new CEO, John Ternus, is valued at approximately $58 million for the fiscal year 2027, while Tim Cook's compensation will reach about $47 million after he takes on the role of Executive Chairman. This information was revealed in a filing that Apple Inc. submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday. It also marks Ternus's official first day as CEO. In the future, the new CEO will receive an annual base salary of $3 million, along with a stock award with a target value of $55 million next year. At 65 years old, Cook is handing over the reins to Ternus after 15 years at the helm of Apple Inc. During Cook's tenure, the company expanded into new product areas and increased annual revenue to nearly $500 billion. Under Cook's leadership, Apple Inc. has seen its stock price rise by over 2200%, outpacing the broader U.S. market significantly. Ternus, who is 51 years old, will receive pro-rated restricted stock units (RSUs) worth approximately $2.5 million in fiscal year 2026. Three-quarters of Ternus's stock awards will be tied to Apple Inc.'s performance relative to other components of the S&P 500 index, while the remaining 25% will be linked to time-based stock units that will vest every six months. As part of his new role, Cook's annual compensation will be reduced from $3 million to $2 million, while his stock compensation plan for 2027 will have a target value of $45 million. The extent to which his compensation is linked to Apple Inc.'s performance will also decrease, with only half connected to the performance of the S&P 500 index. In 2025, Cook's total compensation during his tenure as CEO was $74.3 million. The new stock awards for Ternus and Cook will be valued based on fluctuations in Apple Inc.'s stock price. Cook has previously stated that he plans to serve as the Executive Chairman of Apple Inc. for the long term. Apple Inc. has never disclosed Ternus's salary during his previous role as Senior Vice President of Hardware Engineering, but executives at this level typically receive around $25 million annually, including stock, salary, and bonuses. The documents submitted by Apple Inc. on Tuesday did not specify how much in cash bonuses the two executives may also receive, though such bonuses are usually around twice the base salary. September 10 debut: The ultimate test for the foldable iPhone and the new Siri AI In his first speech to employees as the new CEO of Apple Inc., Ternus praised the company's strong product roadmap and announced that the iPhone, set to launch next week, will be an "extraordinary" product debut. The former head of the hardware engineering department expressed his excitement for "everything coming up" after the launch of the new iPhone, including "incredible products already in development, as well as those we have yet to even imagine and will create together in the future." He also thanked Cook for his leadership at Apple Inc. and for the support he provided during the transition. Apple Inc. has announced that its fall product launch event will take place at 1 AM Beijing time on September 10, themed "Surprise and Shine." This will be Ternus's first major public appearance as CEO. Market expectations are high that this event will break the decades-long pattern of iPhone launches from Apple Inc.with no standard version of the iPhone 18, leaving only the iPhone 18 Pro, Pro Max, and the first foldable iPhone. The foldable device is expected to feature a horizontally folding book design, with an internal display of about 7.8 inches and an external display of about 5.5 inches. All three new models will be powered by the first 2-nanometer chip, A20 Pro. The success of the foldable iPhone will directly affect Apple Inc.'s ability to boost average selling prices and profit margins through this new product form, especially against the backdrop of rising global memory and chip costs. A key focus will be the new Siri AIthis voice assistant, positioned as a direct competitor to ChatGPT, must overcome the long-standing perception of Siri as "not user-friendly" in order to restore market confidence in Apple Inc.'s AI strategy. IDC projects that Apple Inc. will capture 40% of the foldable device market by the end of 2027. Meanwhile, the next generation of AI-driven Siri is set to debut in iOS 27. Ternus's "three mountains": AI lag, talent drain, and supply chain challenges Apple Inc., which boasts a market capitalization of $4.6 trillion, faces structural challenges unseen during Cook's era. First, there is a significant lag in AI. In the realm of generative AI, Apple Inc.'s efforts have been noticeably behind. After the ChatGPT craze ignited the AI boom at the end of 2022, Apple Inc. mobilized substantial investments, but the first version of its Apple Intelligence software performed poorly. Last year, Apple Inc. made a controversial decision to abandon its in-house model development in favor of adopting Alphabet Inc.'s Class C Gemini technology as the foundation for the new Siri, leading to strong dissatisfaction among its internal language model team, with several core members resigning in succession. The new Siri AI will launch fully in September, and whether it can change the market's perception remains to be seen. Compared to the aggressive AI integration by Microsoft Corporation, Alphabet Inc. Class C, and OpenAI into consumer and enterprise products, Apple Inc.'s pace appears more cautious, facing increasing pressure to catch up. Ternus must lead Apple Inc. to make critical decisions in the AI fieldamplifying research and development investments, increasing capital expenditure, and possibly pursuing extensive mergers and acquisitions. Second, talent drain is intensifying. Hundreds of former Apple Inc. employees are now working at OpenAI's hardware division, leading Apple Inc. to file a lawsuit accusing OpenAI of stealing trade secrets. About half of the executive team at Apple Inc. may leave in the coming years. To retain key talent, Ternus has awarded several members of the iPhone design team additional bonuses totaling hundreds of thousands of dollars and has personally intervened to retain them. Third, supply chain dynamics are shifting. Apple Inc.'s long-term procurement commitments are nearing $57 billion, while the procurement commitments of the four major cloud service providers globally total about $2 trillion. Apple Inc.'s $5.62 billion in debt is set to mature within a year. Meanwhile, Chinese DRAM manufacturer Changxin Storage has captured about 11% of the global DRAM output, emerging as a new option within Apple Inc.'s supply chain. Analysts at Bank of America Corp predict that Apple Inc.'s abandonment of its net cash neutrality target "may signify that in the coming period, Apple Inc. will increase research and development investments, capital expenditures, and pursue larger-scale mergers and acquisitions."