3 Reasons to Buy Apple Stock on the Dip as CEO Tim Cook Steps Down
Apple is entering a new era, but it should remain a market-beater over the long run.
Overview
Apple (NASDAQ: AAPL) recently reported its financial results for the third quarter of fiscal year 2026, which ended on June 27. It was the last full quarter with Tim Cook as CEO. He is set to step down from his role on Sept. 1 and become the company's executive chairman. Apple's senior VP of Hardware Engineering, John Ternus, will take the helm. Apple's shares dropped on the heels of its earnings release, for reasons unrelated to the CEO change. However, there are good reasons to buy the dip. Let's discuss three of them.
Image source: The Motley Fool.
The defining product of the Tim Cook era, by far, was the iPhone. It remains the company's largest segment by sales. However, some investors have said for years that the iPhone's best days are behind it. This world-famous device no longer generates the kind of buzz it once did. That's true. But in recent quarters, the iPhone has been impressive. The latest model, the 17, is driving a solid renewal cycle and helping Apple post some of the best year-over-year revenue growth in years.
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Originally published at www.fool.com.