When tech giant Apple (NASDAQ:AAPL) rolled out the Apple Vision Pro, it was widely regarded as a major advance in virtual and augmented reality (VR/AR). But there are some signs that suggest this advance may not have been as big as expected. In fact, reports suggest that a distressing number of users are returning their Apple Vision Pro units, though this didn’t faze investors much. Apple stock is up fractionally in Wednesday afternoon’s trading.
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While Apple isn’t seeing Vision Pro returns in droves, the numbers they are seeing so far are distressing on a percentage basis. Apple Store locations are seeing the Apple Vision Pro headset returned at a rate of about “…one or two per day.” This doesn’t sound like much until you remember that there were 273 Apple Store locations in the United States as of January 31, and the Vision Pro isn’t exactly a high-volume product. The reasons for the returns vary, such as excessive eye strain or neck issues.
But Is It Really a Problem?
Granted, the fact that many returns are coming in isn’t exactly great news for Apple, but it’s hardly all bad. In fact, some are projecting that this is actually good news, as Apple can use some of these reasons why the devices were being returned to modify the device for the next version. Certainly, the price tag was already scaring a few people off and likely caused buyer’s remorse for some who weren’t instantly blown away by the quality of the device’s experience. It’s also worth noting that, on an absolute basis, not many of these are being returned.
Is Apple a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 16 Buys, eight Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 22.64% rise in its share price over the past year, the average AAPL price target of $206.15 per share implies 13.51% upside potential.
