Apple shares: Vision Pro the most important product since iPhone?
Apple has unveiled the Vision Pro, its new virtual reality headset, which it hopes will be its most revolutionary product since the iPhone. Or could this be the company’s riskiest bet? IGTV’s Angeline Ong takes a closer look.
(Video Transcript)
Apple's developer conference
Apple has unveiled at its annual developer conference yesterday what CEO, Tim Cook has described as the first Apple products that you look through and not at.
Called the Vision Pro, it's a new virtual reality headset that investors already see as the group's riskiest bet since the introduction of the iPhone.
Why? Well, first it's price starts at $3499. It's more than three times the cost of the priest of its competitors, the Meta Quest Pro. It's also risky because Apple enters a market that is already crowded with devices that are struggling to gain traction with consumers.
Apparently the virtual reality market is dominated by Meta which controls around 80% of the market and many see this latest Apple venture as the next episode of years of clashes between the two companies.
Apple also said it's been working with Adobe and Microsoft to put their apps on the new headset.
Available early next year in the US, owners will also have access to Disney+ streaming service and Apple TV+ .
Share price chart
Now, Apple has also been interesting recently because it's trying to combine all its products with this virtual headset to ensure a new revenue generation line.
Just looking at Apple's shares there for you. Of course, Apple and Meta and many of the competitors in this space understand that it's also a huge sinkhole for research and development dollars. Many analysts and many investors have been waiting for the payback.
Besides the headset, Apple has also unveiled a new 15 inch MacBook Air and a powerful chip called M2 Ultra. Investors are hardly excited though, if it share price reaction is anything to go by. The stock set a new all-time high ahead of the launch but ended the session down on the IG platform.
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