Apple's Foldable Future Hangs on Ternus's AI Test

Apple's shares fell by approximately 1.2% to $316.31 on Tuesday, ahead of its first major product launch under CEO John Ternus.

The company is expected to showcase a foldable iPhone, premium handset upgrades, and a rebuilt Siri assistant during the event.

Quarterly iPhone revenue surged 22% to $54.25 billion, accounting for nearly half of Apple's total sales, while Services contributed $30.74 billion and gross margin hit 50.1%.

Ternus faces significant pressure to demonstrate that Apple's enormous installed base can be made more valuable through AI capabilities, rather than just increasing prices.