BofA Sees 'Device Dominance' Ahead for Ternus-Led Apple

Apple's CEO John Ternus is poised to solidify the tech giant's 'device dominance' in an AI-driven era, according to BofA Securities.

The research firm reiterates its Buy rating and $380 price target for Apple Inc. (AAPL), citing nearly 20% upside potential.

BofA analyst Wamsi Mohan emphasizes that Ternus will preserve 'much of the core of Apple' built during Tim Cook's 15-year tenure, which drove market capitalization growth at a rate of roughly $32 million per hour and established a $4.5 trillion institution.

Ternus is expected to leverage Apple silicon, strict privacy standards, operating systems, and on-device processing to 'cement Apple's device dominance in an AI-enabled era.'