00:00But Ternus, the whole focus is the golden install base.
00:04How do you monetize the 1.5 billion iPhones, the two, you know, over the 2 billion iOS devices?
00:10And that really is the focus going forward.
00:13And he's getting handed the house, getting the keys at a great time.
00:18Now, but he will be judged on the AI error.
00:21That will be the success of Apple or any of the sort of speed bumps.
00:26It'll be based on what they do in AI.
00:28When you look at Cook, Cook's 10 percent politician, 19 percent CEO.
00:32And he'll still be there, you know, helping on those areas in the Beltway as well as in China.
00:37But Ternus, it's hardware.
00:39I mean, core DNA of Apple when it comes to hardware, Ternus is really front and center.
00:44This is now about what's the AI-enabled device, the 20th anniversary of the iPhone next year, what that's going
00:51to look like.
00:51And I think when you think about sort of reimagining what Apple is going to look like as it monetized
00:58the install base, I think investors, clearly as you've seen, it's a wait-and-see approach.
01:03But that right now is what he's going to have to prove out step by step, quarter by quarter.
01:08And that's what he's going to have to prove out step by step, quarter by step, quarter by step, quarter
01:08by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step,
01:08quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by
01:08step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter
01:08by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step,
01:08quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by
01:08step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter
01:08by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step, quarter by step,
01:08quarter by step, quarter by step, quarter
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