Apple (AAPL): Tim Cook steps down & tearing up the balance sheet playbook [Q2 2026]

Apple sets a massive structural transition in motion for Q2 2026 as Tim Cook announces his exit alongside a fundamental shift in the company's financial doctrine.In ~10 minutes:• John Ternus named to take over as CEO this September• CFO permanently abandons the "net cash neutral" mandate• A secretive one-off expense spikes SG&A to $18.9B• The new MacBook Neo actively triggers K-12 Chromebook dumping• Rising memory costs threaten upcoming hardware margins 📉Despite a normal seasonal revenue step-down to $111.2B, Apple's Services division defied gravity to hit an all-time record of $31B. But beneath the top-line numbers, Apple is rapidly reorganizing its physical and financial infrastructure—building domestic supply lines in Texas and ditching strict balance sheet limits to fund the coming local AI cycle.Apple Inc. (AAPL) | Q2 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.