Came across this a couple of years ago, and found it useful to better understand different colors on a leaf. It's a bit long, but worth a read.
Chlorophyll is not a very stable compound; bright sunlight causes it to decompose. To maintain the amount of chlorophyll in their leaves, plants continuously synthesize it. The synthesis of chlorophyll in plants requires sunlight and warm temperatures. Therefore, during summer chlorophyll is continuously broken down and regenerated in the leaves.
Another pigment found in the leaves of many plants is carotene. Carotene absorbs blue-green and blue light. The light reflected from carotene appears yellow. Carotene is also a large molecule (C40H36) contained in the chloroplasts of many plants. When carotene and chlorophyll occur in the same leaf, together they remove red, blue-green, and blue light from sunlight that falls on the leaf. The light reflected by the leaf appears green. Carotene functions as an accessory absorber. The energy of the light absorbed by carotene is transferred to chlorophyll, which uses the energy in photosynthesis. Carotene is a much more stable compound than chlorophyll. Carotene persists in leaves even when chlorophyll has disappeared. When chlorophyll disappears from a leaf, the remaining carotene causes the leaf to appear yellow.
A third pigment, or class of pigments, that occur in leaves are the anthocyanins. Anthocyanins absorb blue, blue-green, and green light. Therefore, the light reflected by leaves containing anthocyanins appears red. Unlike chlorophyll and carotene, anthocyanins are not attached to cell membranes but are dissolved in the cell sap. The color produced by these pigments is sensitive to the pH of the cell sap. If the sap is quite acidic, the pigments impart a bright red color; if the sap is less acidic, its color is more purple. Anthocyanin pigments are responsible for the red skin of ripe apples and the purple of ripe grapes. A reaction between sugars and certain proteins in cell sap forms anthocyanins. This reaction does not occur until the sugar concentration in the sap is quite high. The reaction also requires light, which is why apples often appear red on one side and green on the other; the red side was in the sun and the green side was in shade.
During summer, the leaves are factories producing sugar from carbon dioxide and water using by the action of light on chlorophyll. Chlorophyll causes the leaves to appear green. (The leaves of some trees, such as birches and cottonwoods, also contain carotene; these leaves appear brighter green because carotene absorbs blue-green light.) Water and nutrients flow from the roots, through the branches, and into the leaves. Photosynthesis produces sugars that flow from the leaves to other tree parts where some of the chemical energy is used for growth and some is stored. The shortening days and cool nights of fall trigger changes in the tree. One of these changes is the growth of a corky membrane between the branch and the leaf stem. This membrane interferes with the flow of nutrients into the leaf. Because the nutrient flow is interrupted, the chlorophyll production in the leaf declines and the green leaf color fades. If the leaf contains carotene, as do the leaves of birch and hickory, it will change from green to bright yellow as the chlorophyll disappears. In some trees, as the sugar concentration in the leaf increases, the sugar reacts to form anthocyanins. These pigments cause the yellowing leaves to turn red. Red maples, red oaks, and sumac produce anthocyanins in abundance and display the brightest reds and purples in the fall landscape.