From Nasdaq, Inc.:

Apple Inc unveiled its Apple Vision Pro augmented reality headset at WWDC 2023 last June. The device, set for release on February 2nd, starts at $3,499. Apple CEO Tim Cook praised the “mind-blowing” technology, which will allow users to see others while wearing it. There are high expectations for the device, but analysts question its price.

The Vision Pro comes with a higher price tag than competitors like the Meta Quest 3, starting at $499. However, the inclusion of apps from Zoom, Microsoft, and Disney, plus Disney CEO Bob Iger’s appearance at WWDC, demonstrate high-level partnerships. Analysts project future shipments, with Morgan Stanley seeing a ramp-up to two to four million units annually in the next five years.

The device has garnered high praise from other Apple executives and movie director James Cameron. However, the key will be how much consumers love the device. While there is high anticipation for the Apple Vision Pro, analysts question the time it will take to see success and if a cheaper price point is necessary. There are projections of 600,000 Vision Pro unit shipments in 2024, driven by strong pre-orders.

Apple shares are up 1% to $186.36 on Thursday. Analysts agree that the Vision Pro has the potential for success but speculate on a niche market initially and the need for a cheaper price point down the road.



Read more: Apple Vision Pro Is ‘Mind-Blowing,’ Says CEO Tim Cook: ‘We Live In A 3D World, But The Content That We Enjoy Is Flat’