February 27, 2024

Shiv Telegram Media: Apple Vision Pro Impresses Consumers Despite High Price

Title: Apple unveils revolutionary spatial computing headset, analysts retain positive outlook despite high price

Consumers flocked to Apple retail stores over the weekend, eagerly waiting to experience the new Apple Vision Pro spatial computing headset. With its cutting-edge technology, the headset has generated significant curiosity and interest among customers. Initially available for pre-order, the device comes with a hefty price tag starting at $3,499. While Wall Street analysts acknowledge that the high cost might limit sales, they still view it as a positive move for Apple’s brand.

Industry experts have high hopes for the Apple Vision Pro, recognizing its potential to be a game-changer in the market. Daniel Ives, an analyst at Wedbush Securities, noted the overwhelming interest shown by customers at Apple stores. Ives has revised his sales forecast, now predicting that Apple will sell 600,000 units of the headset in 2024, a significant increase from his previous estimate of 460,000 units.

Wamsi Mohan, an analyst at BofA Securities, believes that the Apple Vision Pro has the potential to establish a new product category for Apple, offering a unique experience in various sectors such as sports, entertainment, productivity, health and fitness, and retail. Mohan projects sales of 400,000 units in 2024, followed by 1 million units in 2025. Furthermore, he envisions a more affordable $2,000 version of the device in 2026, with sales reaching a staggering 4 million units that year.

David Vogt, a UBS analyst, praised the headset’s capabilities and technology after a hands-on demonstration. Notably, the immersive 3D video and spatial audio stood out as impressive features. Vogt predicts that Apple is likely to sell at least 400,000 units in its fiscal 2024, emphasizing the “wow” factor that will appeal to the loyal Apple customer base. However, he points out the potential drawback of the device’s high price potentially limiting its demand.

Despite concerns regarding the pricing, all three analysts maintain positive ratings on Apple stock, each with their own price targets. This positive sentiment has been reflected in the market, with Apple stock rising by 1% during the first weekend of the Apple Vision Pro’s availability, closing at $187.68.

The launch of the Apple Vision Pro headset marks a significant breakthrough in spatial computing. While its high price may deter some consumers, analysts remain optimistic about the device’s potential and its impact on Apple’s brand. With the growing interest and positive reception, Apple is poised to make waves in the mixed-reality headset market in the coming years.