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Apple’s new CEO John Ternus first publicly outlines his product philosophy, sketching an “Apple in the Ternus era” for the outside world.

Engineers take the helm; the roadmap leaves him “immensely excited”
Ternus officially assumed the role of Apple CEO last week, becoming the highest-ranking leader in Apple’s history with an engineering background. In an exclusive interview, he admitted that for someone steering “one of the world’s most important companies,” the feeling inside him is “excitement that makes the hair stand on end.”

Asked about expectations that his engineering background would “rekindle innovation” at Apple, Ternus did not directly accept that premise. Instead, he stressed that Apple’s innovation has never stopped, and that the new opportunities brought by AI are the biggest driving force right now.

Apple chose to enter the foldable-screen race only after the market matured, reflecting Ternus’s engineering philosophy—prefer to endure the criticism of being “late,” but wait until the durability of the hinge, slimmer design, and system-level interactions are polished to an industrial-grade level before launching into the market.

iPhone’s position is unshaken; Apple reiterates its “personal hub” strategy
Against the backdrop of intensifying competition in AI wearable devices, Ternus clearly rejected the market interpretation that “Apple is shifting its strategic focus from phones to wearables.”

Apple Watch and AirPods are excellent AI devices, but their positioning is as an auxiliary ecosystem built around the iPhone—not a replacement.

Privacy built into the chip, targeting controversy in the wearable market
When asked about the privacy concerns sparked by Meta AI glasses, Ternus pointed to the latest audio-intelligence features released on Apple Watch to explain how Apple’s privacy protections are implemented at the hardware-architecture level.

According to Apple, the feature generates no audio recordings, does not retain text transcriptions, and not even the user themselves can retrieve the data. To achieve this, Apple designed a brand-new chip for the new Apple Watch, embedding an independent secure enclave (exclave). Audio data exists only at the instant it is processed, and is then destroyed.

Jazz, Apple’s senior vice president of hardware engineering, added:
“If we don’t generate a recording, then no one will have a recording. It can’t be attacked by hackers, and it can’t be forcibly retrieved.”

This design logic directly addresses public concerns that AI-driven voice recording-type features may infringe on users’ privacy.
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Just released, the US August PPI year-over-year rose 5.40%, expected to rise 5.30%, with the prior reading up 4.70%. After the PPI data was released, the market fully priced in that the Federal Reserve will hike rates in October.

The US dollar index rose slightly in the short term and is now at 99.00. The yield on US 10-year Treasuries rose slightly in the short term and is now at 4.890%. US stock index futures widened their losses, with Nasdaq futures down more than 1%. International oil prices continued to climb: WTI crude oil futures moved higher, reaching above $100 per barrel. Spot gold and silver were lower; spot silver fell more than 4% intraday, and spot gold fell more than 1%.

This PPI report was released one day before the latest CPI data is due, which is expected to show so-called core inflation is relatively mild. Some Federal Reserve officials have hinted that the rate decision at the September 15–16 meeting may depend on what this week’s reports reveal. In a speech last month, Fed Chair Waller said that if policymakers are unable to be confident that underlying inflation trends are improving significantly, the Fed “has more work to do.” As hostilities between the US and Iran continue, another rise in oil prices could further complicate the outlook.

【US August PPI growth beats expectations, still far above the Fed’s inflation target】The US wholesale prices rose in August. The PPI report released Thursday may play an important role in the rate decision the Fed is about to make. The data showed that after seasonal adjustment, August PPI rose 0.4% month-over-month, matching market expectations. On a year-over-year basis, PPI rose 5.4%, still far above the Fed’s 2% inflation target, and also 0.1 percentage points higher than market expectations. $BZ
With crude oil prices continuing to rise, expectations of a Fed rate hike in October are heating up! The probability of a rate hike has risen to 61%

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