Bank of America says John Ternus’ first major product launch as Apple CEO reinforced the company’s bet on hardware innovation, privacy, and more personalized, privacy-focused artificial intelligence.
Wamsi Mohan, Bank of America’s managing director and senior equity research analyst covering Apple, told Bloomberg Tech host Ed Ludlow that the new foldable iPhone Duo expands Apple’s addressable market. The book-style device, unveiled at Ternus’s debut event, opens to a 7.6-inch inner display from a 5.4-inch cover screen and starts at $1,999. Mohan framed it as more than a form-factor change: a way to pull new users and use cases into Apple’s ecosystem while keeping the iPhone at the center of the company’s strategy.
On AI, Mohan pointed to Apple’s split architecture. On-device processing handles as much as possible on Apple Silicon. When more compute is needed, Private Cloud Compute is designed to run larger models without sacrificing user privacy. That combination, he said, could make Siri more capable (able to work across apps and personal context) without the data-collection trade-offs seen in rivals’s offerings. Ternus used the launch to pitch the iPhone as an “intelligent personal hub,” with Siri positioned as a core interface rather than a bolt-on chatbot.
The message from BofA is continuity plus acceleration. Tim Cook’s era was iterative, built a vast installed base, services revenue, and supply-chain scale. Ternus, the longtime hardware chief who took over September 1st, is expected to keep that machine running while pushing devices that embed AI more tightly — foldables now, and later categories such as smarter wearables and home products. Mohan has maintained a Buy rating, arguing Apple can cement device dominance if silicon, privacy, operating systems, and personal context stay tightly integrated.
MacDailyNews Take: We’re not the only ones who are already loving John Ternus’ Apple!
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