iPhone Duo opens new growth path as AI, services, costs test Ternus

Apple's first foldable iPhone, the iPhone Duo, could reignite upgrade demand in the mature iPhone market, but supply constraints and reported display-quality issues highlight the challenge of turning product excitement into profits. Slowing Services growth, regulatory pressure on the App Store business model, and rising memory costs from the AI boom are also testing Apple's hardware ecosystem and supply-chain efficiency, placing a major growth challenge before CEO John Ternus.