BenzingaApple Investors Hope For 'More Of The Same' As CFO Transition Nears
Apple Inc. (NASDAQ:AAPL) is once again the center of Wall Street’s attention, and not just for its tech gadgets.
The recent announcement that CFO Luca Maestri will be stepping down on Jan. 1, 2025, and will be succeeded by Kevan Parekh, the current vice president of Financial Planning and Analysis, has put Apple shares on a roller coaster.
While Maestri isn't leaving the building just yet—he'll continue to manage Corporate Services under CEO Tim Cook—investors are eyeing the transition with a mix of hope and caution.
One Analyst Sees ‘Consistency Of Execution‘, Other Sees The News As ‘Modest Negative’JPMorgan analyst Samik Chatterjee maintains an Overweight rating on Apple, suggesting optimism about the company's future under Parekh. Chatterjee pointed out that, despite the change, investors are hoping for "more of the same" from the incoming CFO, particularly in maintaining "consistency of execution while always leaving some room for execution-led upside for investors to cheer."
He acknowledges that while some may feel "mildly disappointed" at the departure of Maestri, who has been instrumental in positioning Apple as a services-oriented company, the planned succession provides a ...
