Against the backdrop of a broad downturn in major tech stocks, Apple's share price bucked the trend, climbing 1.5% to settle at $321.75. Apple has revealed that John Ternus, its Senior Vice President of Hardware Engineering, is set to succeed Tim Cook as the company's eighth CEO, with Cook shifting to the position of Executive Chairman of the Board. This update has been reflected on the official website's leadership section. Apple is poised to host its most significant product launch event of the year at its Cupertino headquarters at 10 a.m. Pacific Time on September 9 (1 a.m. Beijing Time the next day), which will mark Ternus's inaugural major product unveiling since assuming his new role. Anticipation is high that Apple will introduce its first foldable iPhone, the iPhone 18 Pro, and the Pro Max at the event. The iPhone 18 Pro and Pro Max are expected to boast faster chips, enhanced battery life, and substantially upgraded camera functionalities.