Ternus Faces Post-iPhone Question Amid AI Competition

Apple's incoming CEO, John Ternus, faces a daunting challenge in finding the company's next major computing platform beyond the iPhone. According to Futurum Group CEO Daniel Newman, Apple needs to own this new generation of devices and define the experience layer for AI. Newman stated that Apple has an opportunity to control how consumers interact with technology, but the company has yet to fully capitalize on its position.

Apple's AI strategy, particularly Siri, is a major concern, as it has not developed into the assistant many users expected. The company has also seen limited success in other product categories, such as smart home and cars. Newman pointed out that OpenAI and Meta are working on new devices that could change how consumers interact with technology.

Newman noted that Apple's stock performance has been only 'mid-table' among its peers, trailing Google, Amazon, Tesla, and Nvidia. Under Tim Cook's tenure, Apple spent about $877 billion on share buybacks, more than the combined buybacks of the rest of the Magnificent Seven.