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Apple (AAPL) Names John Ternus as Next CEO: Stock Dips on Leadership Change

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AAPL Stock Card

Key Takeaways

  • Tim Cook transitions from Apple CEO to Executive Chairman effective September 1, 2026
  • Hardware Engineering SVP John Ternus, a 25-year Apple employee, named as successor
  • AAPL shares declined 2.52% in response to the leadership announcement
  • Q2 FY26 earnings scheduled for April 30; analysts project $1.94 EPS on revenue of $109.32B
  • Wall Street maintains Moderate Buy rating with $305.81 average target price, suggesting ~12% potential gain

Apple appears ready to return to its product-focused roots.

The tech giant revealed Monday that Tim Cook will relinquish his CEO position on September 1, 2026, transitioning to Executive Chairman. John Ternus, who currently serves as Senior Vice President of Hardware Engineering after 25 years with the company, will assume the chief executive position. The announcement sent AAPL down 2.52%.

Ternus embodies Apple’s product-first philosophy. His signature accomplishment involved spearheading the Mac’s migration away from Intel processors to proprietary Apple Silicon — a strategic move that strengthened Apple’s competitive positioning in the personal computer sector.

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AAPL Stock Card
Apple Inc., AAPL

His attention to detail borders on legendary. Speaking at a 2024 University of Pennsylvania commencement ceremony, Ternus shared a story about examining machined screw heads on the Cinema Display — his first Apple project. He discovered the manufacturer had added 35 concentric grooves instead of the specified 25.

“Maybe a customer notices, maybe they don’t,” Ternus explained. “But either way, whenever I saw one of those displays on someone’s desk, it mattered to me.”

This meticulous approach represents the foundation upon which Apple was established.

Refocusing on Product Excellence

Recent years saw Apple emphasizing its services ecosystem and artificial intelligence capabilities. The services division — encompassing App Store, AppleCare, and Apple Music — has delivered solid performance. The AI narrative has proven more challenging.

Selecting Ternus indicates a strategic realignment toward hardware as Apple’s fundamental strength. The reality is simple: without iPhones, Macs, iPads, and Watches, the accompanying services ecosystem becomes irrelevant. This appointment communicates that priority clearly.

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Cook’s own succession plan mirrors his original ascension. Steve Jobs selected Cook — an operations and supply chain expert rather than a product visionary — because Apple required different leadership capabilities at that juncture. Today, Cook and the board are entrusting leadership to someone who thinks in precision measurements and manufacturing specifications.

The recently launched MacBook Neo, with student pricing beginning at $500, exemplifies the direction a Ternus-led Apple might pursue: competitive pricing while maintaining the premium quality standards the brand demands.

Financial Outlook and Shareholder Composition

The leadership transition comes just before Apple releases Q2 FY26 financial results on April 30. Analyst consensus calls for earnings per share of $1.94 alongside revenue reaching $109.32 billion.

Regarding shareholder structure, TipRanks data shows public companies and retail investors controlling 60.61% of AAPL. Exchange-traded funds represent 21.61% of ownership, while mutual funds hold 17.70%. Vanguard leads all institutional holders with 8.45%, followed by Vanguard Index Funds controlling 6.87%.

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Wall Street analysts assign AAPL a Moderate Buy consensus rating, comprising 16 Buy recommendations, 8 Hold ratings, and 1 Sell rating across the previous three months. The consensus price target stands at $305.81 — approximately 12% higher than current trading levels.

Apple’s April 30 quarterly report will provide the initial significant gauge of market confidence in the new leadership framework.

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DeFi traders are stacking risks on top of Strategy’s risky STRC

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DeFi traders are stacking risks on top of Strategy’s risky STRC

Strategy (formerly MicroStrategy) already pays 11.5% annualized dividends on its ultra-risky Stretch (STRC) but DeFi users are now adding risks and leverage to crank that up to 39%.

In finance, interest rates are often dictated by the risk of total loss. With very few exceptions, when someone offers a higher interest rate, it’s because they’re much more likely to not pay you back.

Unbothered, traders are now re-routing Strategy’s dividend payouts through multiple blockchain protocols to manufacture yields of double, triple, or more what STRC actually pays.

They add future obligations in exchange for near-term payouts, take advantage of temporary incentives for obscure DeFi protocols, and add exotic forms of leverage to amplify the notional exposure of an otherwise small investment.

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In the curious underworld of tokenized STRC, there are at least five protocols offering the financial machinery for DeFi yield farmers, not to mention the risks of the custodians and technology providers involved with these protocols.

A daisy-chain of DeFi risks to amplify STRC

Apyx wraps roughly $136 million of STRC into a synthetic stablecoin-like token called apxUSD. Saturn packages approximately $85 million worth of STRC into its USDat product. Another tokenization protocol xStocks put approximately $53 million worth of STRC on-chain. 

Meanwhile, Pendle Finance splits these STRC tokens and the dividends paid to STRC stockholders into separately tradable, fixed-rate and floating-rate components, and Morpho provides the loan-looping mechanism at the end to add even more financial leverage on these instruments.

Depositing assets to borrow these tokens, which trade under a variety of ticker symbols like STRCx, apyUSD, apxUSD, USADT, sUSADT, strcUSX, traders borrow tokens, re-deposit some portion of those loan proceeds to take out more loans, re-deposit some portion of those loan proceeds to take out more loans, and so on.

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The more loops and the smaller the range of prices that a user collateralizes, the higher the probability that the protocol will forcibly liquidate the position.

Irresponsible dividends, amplified

The base yield of STRC with no tokenization whatsoever is already extreme. STRC pays 11.50% annualized, roughly 450 basis points above the average junk bond.

Indeed, Strategy has hiked its dividend rate seven times since launching STRC at 9% in July 2025. 

Each hike tacitly admitted that demand at the prior rate was too weak to hold up STRC’s secondary trading on Nasdaq at its intended $100 per share.

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Read more: We calculated the present value of STRC — it’s bad for MSTR

Rather than ease up on leverage in light of the thinning air, DeFi’s response has been to treat 11.5% as a stable case on which to construct even higher artifices.

Apyx Finance closed a $300 million valuation round in February as a self-described dividend-backed stablecoin protocol.

It issues apxUSD backed by STRC and a related preferred like Strive’s STRC-like SATA, with apyUSD as the yield-bearing version of the same claim. Saturn Credit raised $800,000 from Sora Ventures and Changpeng Zhao’s YZi Labs in January to run the same play through USDat and sUSDat.

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Both of these STRC tokenizers wrap their resulting tokens into Pendle, where PT-apyUSD locks in fixed yields of roughly 14.84%.

Users then deposit those PT tokens on Defi protocol Morpho as collateral to borrow USDC at rates as low as 1.59%.

The arithmetic isn’t subtle. A 5x leverage loop landed on a 64% APY. A separate analyst account documented 39% APY.

Hoping and praying STRC never de-pegs for long

On April 14, STRC was approaching its monthly dividend snapshot date, going “ex-dividend” in the parlance of Wall Street, causing its price to decline. That sag dragged sUSDat’s exchange rate below the high-water mark Pendle uses to govern yield accrual for the Saturn token. 

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Pendle had to explain this basis phenomenon to its users. “Yield accrual on YT-sUSDat is currently paused due to STRC’s ex-dividend event on 14 April, which pushed the exchange rate below the watermark,” it said.

It reassured holders that “If STRC recovers to $100, the watermark is recaptured, yield accrual resumes, and your total earnings will be ultimately unaffected.”

As always, the conditional “if” is doing a lot of heavy lifting.

Indeed, if STRC trades near $100 and pays dividends near 11.5% forever, everything will work out wonderfully.

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In fact, STRC fell to $90.52 on November 21, 2025, and to $93.10 in February 2026. That’s why the dividend rate is where it is. It shouldn’t be a mystery as to why Strategy needs to pay such as higher dividend rate.

Unfortunately for STRC traders in DeFi, neither is guaranteed. The quasi-peg has already failed twice in the last six months. Moreover, Strategy’s board of directors can cut the dividend at its discretion.

DeFi traders are also exposed to countless numbers of protocol, blockchain, smart contract, and custodian risks that multiply these risks even higher.

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

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The signal bitcoin (BTC) price momentum traders have been waiting for is here

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BTC's daily price swings in candlestick format with key averages. (TradingView)

Bitcoin pushed above $78,000, lifting the broader crypto market. The move came as risk sentiment improved after U.S. President Donald Trump extended the ceasefire with Iran. Stock index futures also gained.

The cryptocurrency’s ascent ended the weeks of choppy trading between $65,000 and $75,000 that defined March and early April, finally giving momentum traders the green signal they had been waiting for.

Momentum traders buy when they see proof that an upward trend is underway. Bitcoin’s breakout is exactly that, and more buyers could pile in as a result, adding to the momentum. As the first law of motion says: An object in motion stays in motion until an outside force acts upon it, though Sir Isaac Newton may not have been thinking of financial markets at the time.

“The market spent months capped in the 65 to 75 box. Breaking out of that kind of range matters because it changes behavior. Sellers who were comfortable fading rallies above 74 now have to reassess. Momentum buyers who were waiting for confirmation finally have something to lean on,” analysts at Marex said.

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Onchain indicators suggest the same. For instance, the number of coins held in wallets tied to centralized exchanges has dropped to a fresh multiyear low of 2.67 millon BTC, according to data source CryptoQuant. It points to continued investor accumulation, which could culminate in a supply shock.

“Bitcoin supply on exchanges continues to shrink, with fewer coins available to sell, more BTC moving to long-term holders, and liquidity tightening. Bitcoin is becoming increasingly scarce – supply down means volatility up,” Delta Exchange said on X.

Still, QCP Capital is urging caution, noting the persistent relative richness of bitcoin put options on Deribit. Puts are used as a hedge against potential price drops in the underlying asset. It added that crypto trends currently seem tied to the price of oil and the interest-rate outlook.

“The path forward remains anchored to oil and policy. A move lower in crude or clearer Fed signaling would support risk. Absent that, markets are likely to remain in a holding pattern, pricing uncertainty rather than resolution,” the Singapore-based firm said in a market update.

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In traditional markets, WTI crude futures are trading around $90, having bounced from a low of $78 on Friday.

In the broader market, DeFi security risks remain an issue as hacks proliferate. Early today, the Sui-based Volo protocol was drained of over $3 million just days after the KelpDAO event that caused collateral damage across the sector. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

What’s trending

This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already.

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Today’s signal

BTC's daily price swings in candlestick format with key averages. (TradingView)

The chart shows bitcoin’s daily price movements in candlestick format, with lines indicating the 100-day and 200-day average prices.

BTC’s price has established a firm foothold above the 100-day average, represented by the white line. This is pivotal because the 100-day average capped the bounce in January, following which sellers re-established control, leading to a deeper crash to nearly $60,000.

Now the price has pierced through, which typically signals a strengthening of bullish momentum, focus shifts to the 200-day average, currently positioned at $85,900.

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WOJAK Crypto Meme Coin Pumps 87% as MAXI Targets $5M: Analyst Calls Most Obvious Trade of 2026

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WOJAK Crypto Meme Coin Pumps 87% as MAXI Targets $5M: Analyst Calls Most Obvious Trade of 2026

WOJAK crypto is moving again, and the meme coin faithful are paying attention. The original despair-fueled token surged as much as 87% in a 24-hour window, reigniting a sector that many had written off after months of sideways consolidation.

Whether this leg holds or fades fast is the question every trader is asking right now.

The rally appears supply-driven. On-chain data tracked by MEXC shows aggressive accumulation alongside a tightening circulating supply, with whale wallets absorbing selling pressure at key floor levels.

Volume spiked into the move, a distinction that separates genuine breakouts from low-liquidity noise. One chart making rounds on Crypto Twitter shows WOJAK printing its highest weekly close since its 2023 peak. That kind of structure demands a closer look.

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The broader ETH memecoin sector is catching a bid at the same time, suggesting this isn’t an isolated pump. Ethereum-based meme tokens are drawing renewed capital as gas conditions improve and risk appetite expands, a context that matters when sizing any position here.

Can WOJAK Crypto Price Sustain Its Breakout or Is a Reversal Imminent?

WOJAK crypto is currently priced at approximately $0.0₆1021, sitting on a market cap of roughly $41.5M after the multi-day surge. That’s a meaningful number, small enough to move fast, large enough to attract institutional-grade meme traders who track this tier specifically.

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The move here is not just a one-candle spike; it looks like sustained buying over a short window, with volume well above average, which usually signals real interest rather than a quick pump.

The structure is pretty clean when viewed in market-cap terms. Right now, the key resistance sits around $50M, and that is the level that decides whether this continues or stalls.

Source: Tradingview

If it breaks above $50M with volume holding, that is where momentum can expand fast and open the path toward $100M as the next target, especially with traders chasing strength.

If it gets rejected there, the more realistic outcome is a cooldown, with price settling and accumulating around the $30M area while the market digests the move.

The risk is that it starts losing structure rather than consolidating, because once distribution kicks in, these moves unwind quickly.

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And at this size, the further it runs without a reset, the worse the risk-reward gets, so anyone entering now is chasing momentum, not early positioning.

Maxi Doge Presale Nears $5M as WOJAK Traders Hunt Earlier-Stage Upside

WOJAK’s surge is validating the meme coin thesis — but at $21.5M market cap and already up 187%, the easy money has cleared the table (that’s just math). Traders who want the next WOJAK-style move, not the current one, are looking earlier in the funnel.

Maxi Doge ($MAXI) is currently the presale generating the most discussion in that context. Built on Ethereum as an ERC-20, the project has raised $4,748,137.43 at a current price of $0.0002814 — closing in hard on the $5M milestone.

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The concept is built around a 240-lb canine juggernaut embodying a 1000x leverage trading mentality: gym-bro energy meets aggressive market culture, packaged into holder-only trading competitions with leaderboard rewards and a Maxi Fund treasury backing liquidity and partnerships.

Recent coverage confirms the presale’s momentum toward that $5M threshold. Dynamic staking APY is live for current holders. The tagline, never skip leg-day, never skip a pump, is aggressively on-brand for the audience it’s targeting.

Presales carry real risk: no secondary market liquidity until launch, and meme projects live or die on community velocity. Do the work. But for traders who missed WOJAK’s entry, Maxi Doge is worth researching before that $5M milestone closes the current tier.

Visit Maxi Doge Here

The post WOJAK Crypto Meme Coin Pumps 87% as MAXI Targets $5M: Analyst Calls Most Obvious Trade of 2026 appeared first on Cryptonews.

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Bitcoin Bull Score Index Rebound Fails to Quash 2022 Bear Market Fears

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Bitcoin Bull Score Index Rebound Fails to Quash 2022 Bear Market Fears

Bitcoin (BTC) price metrics are showing relief this month, but the risk of repeating the 2022 bear market remains.

Key points:

  • Bitcoin’s Bull Score Index combined price metric reaches its highest levels since October last year.

  • The relief may be short-lived, analysis warns, pointing to the 2022 bear market.

  • Crypto sentiment reaches its most bullish since January, per the Crypto Fear & Greed Index.

Bitcoin Bull Score Index ditches “bearish” zone

New data from onchain analytics platform CryptoQuant place the spotlight on the Bitcoin Bull Score Index (BSI).

Bitcoin has finally entered “neutral” territory with its push to $78,000, the latest BSI data confirms, with the Index climbing to its highest since October 2025.

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BSI incorporates nine price metrics to give an overall impression of performance. Since the bear market began, it has been sharply bearish — just as in the early stages of the previous bear market four years ago.

“First time in this bear market that the Bull Score Index enters neutral zone (50),” CryptoQuant contributor Julio Moreno noted in an X post on Wednesday.

Bitcoin Bull Score Index. Source: CryptoQuant

Moreno cautioned that despite the pressure being off for now, BSI also had a brief cooling-off period before the 2022 bear market continued.

“In March 2022, the Bull Score entered neutral territory for about a week, and then the price resumed its decline,” he added.

Should history repeat, attention will be on the Index’s performance into the April monthly close, as BTC/USD attempts to break out of a multi-month range.

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Examining BSI readings last week, with price around $74,000, CryptoQuant contributor Arab Chain described a “balance between supply and demand forces.”

“On the other hand, the current BSI reading shows that the market is still far from the area of strong optimism (above 60), which typically indicates strong bullish conditions, while also remaining above the zone of extreme pessimism (clearly below 40),” they wrote in a “QuickTake” blog post. 

“This places the market in a transitional phase, as investors await new catalysts to determine the next direction.”

Sentiment edges to most bullish since January

Other signs of a broader market recovery come from crypto trader sentiment.

Related: BTC price due new highs: Five things to know in Bitcoin this week

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According to the Crypto Fear & Greed Index, a classic lagging indicator that uses a basket of factors to reflect the mood among investors, conditions are at their least negative since mid-January.

Fear & Greed measured 32/100 on Wednesday — still within its “fear” zone while like BSI also approaching the “neutral” bracket.

The Index value has nearly tripled in a little over a week.

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Crypto Fear & Greed Index (screenshot). Source: Alternative.me