This article first appeared on GuruFocus. Apple (NASDAQ:AAPL) CEO John Ternus, just weeks into the job, is moving to overhaul the iPhone maker to speed up product development, broaden its range of devices and run a leaner organization with a greater focus on engineering, Bloomberg News reported. The plans, which Ternus has discussed internally, are the first signs of how Apple's former hardware engineering chief intends to reshape the company after Tim Cook's 15-year tenure as CEO. Apple shares were down 2.23% intraday, as of 12:05 p.m. ET. Is AAPL fairly valued? Test your thesis with our free DCF calculator.
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