Tim Cook is in his final weeks as Apple CEO, with John Ternus set to take over the top job on September 1. Per Bank of America analyst Wamsi Mohan, Ternus could usher in a bolder, riskier era at Apple.

While Apple has emphasized the continuity Ternus will bring, not everyone on Wall Street believes he will follow Cook's example closely. In a research note seen by The Street, Mohan reiterates a strong 'Buy' rating for Apple, tied to expectations that Ternus will maintain Cook's legacy while having a bigger 'risk appetite.' The bank underscored Apple's move away from its net-cash-neutral objective as an early signal that management might be more willing to deploy capital — translating into heavier R&D spending, more Cap Ex, and potentially bigger acquisitions, areas that weren't major features of Cook's strategy.

Under Ternus, BofA sees the possibility of Apple moving much more quickly into new categories, including AI glasses, camera-equipped AirPods, smart rings, home automation, personal assistants, and robotics. BofA believes Ternus will maintain Cook's legacy of turning Apple into a highly profitable global machine, while leveraging the company's position of strength to make riskier moves.

We likely won't see major changes right when Ternus takes over, but in the months to come, any differing priorities may start to become clear.