Apple shares rose 2.47% to $334.62 on Friday as new CEO John Ternus used his first event to emphasize the iPhone and the company’s artificial-intelligence strategy. The "Surprise and Shine" event introduced the iPhone Duo foldable phone and the latest iPhone model, marking a shift from Tim Cook’s effort to highlight Apple’s diversification beyond smartphones. Ternus’ product-focused approach has drawn comparisons with Steve Jobs, who previously concentrated Apple’s strategy on products including the Mac. Apple is scheduled to release the iPhone Duo on Oct. 23, with preorders beginning Oct. 16, while the iPhone 18 Pro and iPhone 18 Pro Max are due Sept. 18 after preorders open Sept. 12. Apple stock was up 9% over the past month and 22.5% year-to-date in 2026, compared with a 52-week range of $229.02 to $344.57.