Apple executive turnover: Evercore's Amit Daryanani on what's next for the tech giant

Executive Departures & Talent Shift - Apple is experiencing executive departures, creating uncertainty and headline risk [1][2] - Half of the departures are due to retirements, bringing new talent into the company [2][3] - Some departures are due to talent foraging by Meta, OpenAI, and other companies [2] - Jeff Williams, the COO's retirement last year, had a cascade impact [2] - The departure of Alan Dye, head of human interface design, is seen as a negative [8] - Rumors of Johnny Srouji, head of semiconductor chip design, potentially leaving would be a material loss [8][9] Apple Intelligence & Future Growth - Apple is strategically resetting on Apple Intelligence, potentially driving changes [2] - Apple Intelligence (Siri 2.0) in Spring 2026 could improve iOS base monetization [4][5] - If Apple Intelligence works, it could trigger services monetization and a hardware cycle [6][7] - The key question for Apple is how to improve monetization for iOS users [5] Stock Performance & Analyst Perspective - Evercore IT hardware networking equipment senior analyst raised the price target to $325 from $300 [1] - Despite executive departures, near-term outlook for Apple stock remains positive [2]