Apple enters a new era, Super September is back & Pimp My Portfiolio with Henry Jennings

**Bryce** (0:01)
Welcome to another episode of Equity Mates, a show where we explore what's possible in the world of investing. If you've joined us for the very first time, a huge welcome to our community. My name is Bryce.

**Ren** (0:10)
And I'm Ren, and today we're gonna be talking about Apple's new CEO, Super September is back, and we're gonna close out with another Pimp My Portfolio. But Bryce, before then, we've got another exciting session announcement for FinFest.

**Bryce** (0:24)
Yeah, I can't wait for this one, Ren. I'll be in the front row because it is titled, Is Property Investing Dead Post-Budget? I know, it's gonna be a banger. It's gonna be sold out, it's gonna be sold out. Well, not sold out, but it'll be full.
We've got two property experts, Chris Bates, who is our mortgage broker, and then Scott Agate. He is a buyer's agent and property negotiator from Brisbane. They are both friends, but we're gonna be putting them head to head to debate on stage, Is Property Investing Dead Post-Budget? Chris thinks it is, even though his job is in mortgage-broking. He thinks it's dead and that the family home is where we should consider putting our money and then stocks, whereas Scott is obviously seeing plenty of opportunity in the market.

**Ren** (1:06)
Yeah, they might be friends outside of FinFest, but on that stage, they are rivals. This is a session you are not gonna want to miss. To secure your ticket, go to equitymates.com/finfest.
It's only $55 and you can hear so many sessions like this. You're not gonna want to miss it.

**Bryce** (1:22)
FinFest is proudly brought to you by Betashares.

**SPEAKER_3** (1:27)
News and markets.

**Bryce** (1:29)
Two new stories that we're gonna cover today. We've got a new CEO who's officially taken over the reins at Apple. Tim Cook is gone. And the tail end of earnings season certainly brings out some duds. And we're gonna have a look at two duds that just snuck out some results before the end of earnings. So let's start with Apple Ren, where John Ternus has now taken the reins as the new CEO.

**Ren** (1:54)
Yeah, now you said Tim Cook's out. He's not actually, he's just done the classic powerful CEO move. He's moved from CEO to Chairman of the Board. Love that. But he has ended his 15 year reign as Apple's CEO and handed it over to John Ternus. This week, as this episode gets released, it was official on the 1st of September.
Before we get into who John Ternus is and what we can read into it, let's just celebrate Tim Cook. He took over from Steve Jobs. You never want to be the guy after the guy.

**Bryce** (2:24)
Yeah.

**Ren** (2:25)
Just in big shows. The same in coaching footy teams as it is in being the CEO of a company. But he's done a great job, taking Apple from a $350 billion company to a $4 trillion company in 15 years.
He was always seen as the supply chain guy, not the product guy, but he had a few wins.

**Bryce** (2:43)
Yeah.

**Ren** (2:43)
Apple Watch, now the best-selling watch in the world, AirPods.
Now, AirPods is the second-fastest new product category for Apple, beaten only by the iPad. So in terms of growth rate for the AirPods, better than the iPhone and the iPod. Yeah. Pretty impressive.

**Bryce** (3:03)
Yeah.

**Ren** (3:03)
He had a few duds as well. Yeah. Apple Vision Pro didn't hit.

**Bryce** (3:08)
Still jury's out.

**Ren** (3:11)
Yeah, jury's out. The Apple HomePod, which was their smart speaker.

**Alec** (3:15)
It doesn't ring a bell.

**Ren** (3:16)
Exactly.
But Tim Cook, what an innings. Well done. Yeah. We turn the page. Who is John Ternus?

**Alec** (3:25)
I've had the great fortune of working on pretty much every type of product that we make.
I am thrilled to be able to tell you about this new iPad Pro. We couldn't be more excited by how well the Mac transition to Apple Silicon is going. It's the impossibly thin iPhone Air. You can probably tell I'm really excited about the products that we're making and even more excited about the things that we're going to be delivering in the future.

**Bryce** (3:47)
He might be a new name to some, but within Apple, he's certainly not a new name. He's a 50-year-old, one of the youngest members of Apple's executive team. But he has spent half his life at the company, joining in 2001 as a member of their product design team, so certainly grown through the ranks. He's been Senior Vice President of Hardware Engineering since 2021 and most recently, he was in charge of the iPhone, which is the biggest seller.