The announcement that Apple (AAPL) COO Jeff Williams, once a potential successor to CEO Tim Cook, will retire later this year marks the second senior c-suite executive to depart Apple in the last 8 months and suggests the continued changing of the guard, Morgan Stanley tells investors in a research note. It doesn’t appear CEO Cook will be stepping down any time soon, the firm says, but adds that SVP of Software Engineering Craig Federighi and SVP of Hardware Engineering John Ternus look to be the most likely eventual successors. Morgan Stanley has an Overweight rating and $235 price target on Apple shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Apple’s Leadership Transition and Operational Stability Underpin Buy Rating
- Apple (AAPL) Sets Sights on Formula 1 Broadcast Rights as Brad Pitt’s Movie Sparks Interest
- Apple (AAPL) Chief Operating Officer Jeff Williams Announces Retirement
- Epic Games Reaches a Settlement with Samsung (SSNLF) in Alternative App Store Lawsuit
- Apple COO Williams to transition role to Sabih Khan later this month