Tech stocks today: Apple stock falls as Wall Street sizes up new CEO John Ternus, Anthropic makes progress on Pentagon deal

Apple (AAPL) stock fell 2.7% on Tuesday following Tim Cook's surprise announcement that he will be stepping down as Apple CEO in September. Cook will be replaced by senior vice president of hardware engineering, John Ternus, but will remain at the company as executive chairman.

More broadly, tech stocks wavered on Tuesday amid concerns about the stability of the ceasefire in the war in Iran. Some slight gains followed a resurgence in the artificial intelligence trade, which helped push major indexes to all-time highs last week.

Marvell (MRVL) stock jumped another 2% on Tuesday after The Information reported that the company is partnering with Alphabet (GOOG, GOOGL) to develop a new tensor processing unit (TPU) and AI memory chip to take on Nvidia's (NVDA) GPUs.

Tesla (TSLA), meanwhile, will report its first quarter earnings after the bell on Wednesday. Investors are likely to focus on the company's ongoing Robotaxi effort and its capital expenditures. Tesla's stock fell again to start the week after it ended an eight-week losing streak last week following optimism on the AI chip front.