Investors and consumers alike eagerly followed the Worldwide Developers Conference, one of Apple’s most significant events, hoping for new innovative products to be unveiled. And their hopes were not deceived. Apple introduced its long-awaited augmented reality unit, the Apple Vision Pro, writes eToro analyst for Romania, Bogdan Maioreanu.
It is the first time since 2016 when the company introduced a new platform and there is a solid reason it happened in the WWDC. In order to realize its full potential, hardware, no matter how sophisticated, needs software.
Apple Vision Pro is an augmented reality – virtual reality headset that Tim Cook, Apple CEO said will introduce spatial computing, blending digital content with real world. Having two high resolution micro Oled displays, 12 cameras, five sensors, six microphones, an M2 chip and a R1 chip, especially designed for this headset. The device also has a front OLED screen allowing you to show your eyes to a person that sits in front of you, while continuing to wear the headset.
So the big question for investors is who the new Apple headset is for? During the presentation a lot of emphasis was on work cases. Also it gave us a glimpse of how entertainment is handled. Use cases at work, at home and while traveling were presented. But the device is featuring a tethered battery that gives roughly just two hours of work. So, in a way, this might open a new accessories line for Apple, but also force Vision Pro buyers to spend more money to use the device.
Disney (DIS) also announced that its streaming platform Disney + will be available from day one on the Vision Pro and showcased some innovative ways to watch sports, shows and movies. Developers were invited to create new apps for the new device and also modify their existing apps and add the spatial component.
But the big surprise came when Tim Cook announced the price: 3499 dollars. The crowd reaction was mixed, from surprise gasps to laughing. If we look at direct competitors, Meta just announced its Quest 3 priced at 499 dollars, with its Quest Pro starting at 999 dollars. Pico Immersive Ltd, a company belonging to ByteDance – the owner of TikTok – has its Pico 4 Enterprise priced at 899 euro with the consumer model at 429 euros. HTC Vive Pro 2 has prices between 714 and 1249 dollars.
Speculations appeared online that the device will appeal a lot to collectors, making a parallel with the first iPhone that at launch in 2007, cost 599 dollars and sold at an auction with 63,000 dollars,105 times its original value.
Apple is an investors’ favorite, being the fourth most held share by Romanian investors on eToro platform. Since January, Apple shares have reached new highs, after having grown by an impressive 50%, bringing the company’s total market capitalization to approximately 2.8 trillion dollars. Despite declines in the MacBook and iPhone sectors and the lack of guidance for the current year, Apple’s innovative services and products continue to contribute to its success. While Vision Pro will launch in the US in the first part of 2024, it is unclear yet how it will impact Apple business due to its high price and limited availability.
