Ternus Takes Center Stage as Apple Unveils Foldable iPhone and Revamped Siri AI

Apple's 'Surprise and Shine' event was marked by a milestone - John Ternus, the new CEO of Apple Inc. (NASDAQ:AAPL), took center stage for the first time in 15 years.

The highly anticipated event saw the launch of three new phones, led by Apple's first foldable iPhone, priced from $2,099 and likely branded 'Fold' or 'Ultra'. Pro-line models are expected to see a price hike of $150 to $200 due to rising memory costs.

Additionally, the revamped Siri AI, built partly on a customized Google Gemini model, was also unveiled at the event.

Ahead of the launch, analysts were split on Apple's stock performance. Bank of America rates shares as 'Buy' with a target price of $380, implying 18.8% upside and valuing the stock at 37 times its 2027 earnings estimate.