From Nasdaq Inc.:

Gene Munster, managing partner of Deepwater Asset Management, drew parallels between the rivalry between Meta Platforms Inc. (NASDAQ: META) and Apple Inc. (NASDAQ: AAPL) over AR/VR headsets, reminiscent of Blackberry’s competition with Apple in the smartphone market in 2007. Munster referenced a Wall Street Journal article on Meta’s readiness to take on Apple in the headset war.

Meta executives are “optimistic” about competing with Apple in the AR/VR and mixed reality market, believing Cupertino’s entry will validate Mark Zuckerberg’s vision and bring in more customers. This narrative echoes what Zuckerberg has previously said about Apple’s entry into the AR/VR market. Munster’s comments come at a time when Meta and Apple are making significant strides in the VR and mixed-reality headset market.

Apple is expected to launch its Vision Pro mixed-reality headset on Feb. 2 and has reportedly started working on the next generation of its product. On the other hand, Meta’s Quest 3 VR headset was launched last year. However, past events show that Apple took over Blackberry’s market by innovating and presenting a new paradigm of smartphones, ultimately leading to Blackberry’s decommissioned phones in January 2022.

Munster’s comments hint at the possibility of history repeating itself, with Meta potentially underestimating Apple’s prowess in the VR headset market. Munster has predicted that the Vision Pro headset could take up to two years to hit the one million unit sales milestone — a slower pace than the iPhone’s initial uptake. He has also predicted that eventually, 10% of the iPhone maker’s revenue will come from its mixed-reality headset.



Read more: ‘History Will Repeat Itself:’ Munster Warns Meta Welcoming Headset War With Apple Echoes BlackBerry’s Greeting To Cupertino’s 2007 Smartphone Debut