.August 27, 2024 05:06 PM

Apple announced that CFO Luca Maestri will step down on January 1, 2025, with Kevan Parekh taking over. Wall Street analysts noted Maestri’s positive impact on Apple’s shift towards a services-focused company, leading to higher valuation and strong shareholder returns. Parekh is expected to maintain financial discipline and potentially drive upside surprises. Bank of America analysts anticipate Apple achieving net cash neutrality under Parekh’s leadership through buybacks and dividend increases, possibly moving into a net debt position. Apple is set to invest in AI, Apple silicon, services expansion, and may introduce a foldable iPhone in the near future.