Apple (NASDAQ: AAPL) could take on Amazon (AMZN) and Google (GOOGL) next when it comes to the smart home market, according to a Bloomberg report.
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AAPL could venture into smart displays with a low-end iPad that can control thermostats and lights, display video and handle FaceTime chats. The tech giant is positioning the new device as more of a home gadget than a regular iPad.
With this device, AAPL will compete with Amazon’s Echo Show products and Google’s NestHub. The company is also looking at competing with Meta Platforms (META) regarding virtual reality with cheaper hardware.
The company is also looking at revamping its set-top box which could be unveiled in 2024 with a faster processor.
Analysts remain upbeat about AAPL stock with a Strong Buy consensus rating based on 22 Buys and five Holds.