Reuters: Ternus faces AI and Siri test as foldable iPhone takes center stage

Wall Street’s framing of Apple’s September 9 “Surprise and shine” event is not only about new hardware. In a September 8 Reuters report, analysts cast new CEO John Ternus’s first product showcase as a dual test: deliver a breakthrough foldable iPhone, and prove Apple’s rebuilt Siri can compete in generative AI.

That corporate angle sits alongside — and partly overlaps — the price-and-volume caution already circulating ahead of the keynote.

Foldable as the showpiece

Reuters says investors expect Apple to unveil a passport-style foldable that could quickly lead the still-small foldable market, even if cameras and processors are not category-leading and the price lands above $2,500 in some analyst models.

That is higher than the $2,199 starting figure discussed in recent Bloomberg reporting we covered on Cook’s role and Ultra price talk. Apple has not announced a name, price, or ship date.

IDC’s Nabila Popal told Reuters the exclusivity and scarcity Apple creates could help a ~$2,500 foldable “fly off the shelves,” and that she expects the product to generate more than $45 billion in revenue for Apple by the end of 2027 — even while foldables remain a single-digit share of the overall phone market. Separately, Counterpoint’s 2026 share forecast still pegs Apple at roughly a quarter of foldable shipments in year one.

Analysts quoted by Reuters also expect Apple to emphasize sturdier hinges and reduced crease visibility after watching rivals ship foldables since 2019.

Premium-only fall, spring for the rest

The Reuters piece repeats the widely reported split: refresh iPhone 18 Pro / Pro Max now, hold iPhone Air and lower-end refreshes until spring so attention stays on the foldable. That matches our earlier read that no standard iPhone 18 is expected Wednesday.

Siri’s moment — with geographic caveats

The sharper corporate claim is about AI. Apple has already previewed a deep Siri overhaul that, per Reuters, leans in part on Google’s AI technology behind the scenes. Creative Strategies’ Carolina Milanesi told Reuters Ternus’s Wednesday would be harder “if Siri still sucked,” arguing Apple can now say the assistant delivers value — but must keep pace with rivals that ship improvements every few weeks.

Gene Munster of Deepwater Asset Management flagged regulatory drag: a Siri update might take until 2028 to win approval in China and may not launch initially in Europe amid a regulatory dispute. Getting the U.S. release out on time, he said, matters for confidence elsewhere.

Ternus’s public profile as hardware chief was relatively low; Reuters says analysts expect him to stress powerful devices as the base for on-device AI rather than race weekly chatbot demos.

What readers should watch today

Stream details are in our how to watch Surprise and Shine guide (10 a.m. Pacific). After the keynote, the Reuters framing points to three investor checks: foldable pricing vs. the $2,199–$2,500+ rumor band, any Siri availability map (U.S. vs. China/EU), and whether Apple leans harder into scarcity language for the foldable.

Source: Reuters — Apple's Ternus faces AI test as foldable iPhone takes center stage