Institution: New CEO's hardware experience helps Apple's AI ambitions.

Kathleen Brooks of XTB wrote that the hardware background of the incoming Apple CEO, John Ternus, will be crucial for the tech company's progress in the field of artificial intelligence. Under Tim Cook's leadership, Apple's investments in AI have lagged behind its large tech peers. Brooks said investors will be eager to know if Cook's departure will lead to increased investments by Apple. "There is some expectation that Ternus may quickly take action to put his stamp on the company." She added that Apple's stock price fell slightly in pre-market trading, indicating that investors are waiting for more details about Cook's departure at the next earnings call later this month. Apple's stock price fell 0.7% pre-market.