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Apple's Reality Pro to Set New Trends in Mixed Reality Market: Analyst

  • Wedbush analyst Daniel Ives maintains an Outperform rating on Apple Inc (NASDAQ: AAPL) with a price target of $205.

  • Apple will kick off its annual WWDC in Cupertino next week with all eyes on CEO Tim Cook's keynote Monday to set the tone for developers and announce new products.

  • Apple finally looks to unveil its mixed reality headset product, Reality Pro, with price points in the ~$3k range running off a new operating system called xrOS.

  • The company also looks to showcase a 15-inch MacBook Air, iOS 17, and some new chip updates, as this event is about courting developers.

  • While other AR headsets have shown tepid success, like Meta Platforms Inc's (NASDAQ: META) Quest, Ives believes Apple's Reality Pro will have many apps and use cases to distinguish this new product within the Cupertino hardware arsenal.

  • He believes that based on the supply chain tea leaves, the device is made of aluminum, carbon fiber, and glass to reduce the weight and feel for the consumer.

  • Given the high price points, the analyst believes initial shipments will be roughly 150k units for Year 1 based on recent Asia supply chain checks.

  • Ives expects Apple to voice its AI strategy and its monetization.

  • Price Action: AAPL shares traded higher by 1.10 at $179.25 on the last check Wednesday.

  • Man wearing VR headset photo via Wikimedia Commons

Latest Ratings for AAPL

Date

Firm

Action

From

To

Mar 2022

Barclays

Maintains

Equal-Weight

Feb 2022

Tigress Financial

Maintains

Strong Buy

Jan 2022

Credit Suisse

Maintains

Neutral

View More Analyst Ratings for AAPL

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This article Apple's Reality Pro to Set New Trends in Mixed Reality Market: Analyst originally appeared on Benzinga.com

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