Apple (NASDAQ:AAPL) unveiled its long-awaited mixed reality headset on Monday, capping more than seven years of development and ushering the company into a market that could one day transform computing — at least that’s what it hopes.
The device, called the Apple Vision Pro, was unveiled at Apple’s Worldwide Developers Conference in Cupertino, Calif., ending a day of software and hardware announcements. The company described the new interface as “spatial computing”.
The headset is the latest in Apple’s “next big thing” — a groundbreaking new product that could help the tech giant sustain sales. It marks the company’s first major new category since the launch of the Apple Watch in 2015 and will attempt to redefine an industry along the lines of the Mac, iPod, iPhone and iPad.
The headset is an attempt to change the way people interact with the world, according to the company. Apple has long been looking for a new platform to go beyond the iPhone and iPad.
The device combines virtual and augmented reality, which means it can fully immerse the user in content with high-resolution screens – ideal for watching videos – or overlay apps in the user’s field of vision, allowing messages and notifications to appear without overwhelming the user’s view. person.
Apple shares are down 0.25% premarket.
“Today marks the beginning of a new era in computing,” said Tim Cook, Apple’s CEO. “Just as the Mac introduced us to personal computing and the iPhone introduced us to mobile computing, the Vision Pro introduced us to spatial computing. ”
Check out the Wall Street reviews:
CFRA: “Apple failed to identify why it is a mandatory device.”
Goldman Sachs: “Relatively high retail price may limit adoption.”
Needham & Company: “At $3,500, we expect slow adoption.”
BofA: “While we believe MR has potential, adoption will take time.”
Bernstein: “We see potential over time (perhaps $50 billion in 5-10 years; less than 10% of revenues).”
Wells Fargo: While we believe some investors may question the elasticity of consumer demand at a $3,500 price point, we believe Apple will drive consumer adoption by looking for a high-spec headset.
KeyBanc: “Product looks more like a replacement for TVs and monitors. Priced at $3,499, we expect a negligible contribution to AAPL revenue.”
Deutsche Bank: “We believe the high price is likely to limit adoption of the device.”
Wedbush: “While the backlash is around near-term expectations, we believe this is building a development moat for Apple, which remains its gold installed base and Apple ecosystem.”
Evercore ISI: “We think this is the beginning of the next change in computing.”
DA Davidson: “We are downgrading the stock in our belief that any good news of the AR/VR product launch is already reflected in the stock price.”