Earlier today, tech stock giant Apple (NASDAQ:AAPL) rolled out one more thing that tech buffs—and investors—have been waiting for Apple to roll out for months. That thing is the Apple Vision Pro, and it’s already generating its share of controversy. How could that be possible? Well, just ask investors; Apple shares are down fractionally in Monday afternoon’s trading after the announcement hit.
Earlier today, anticipation was at a fever pitch as the Apple Worldwide Developers Conference was poised to begin. That anticipation drove Apple shares spiking upward, approaching a new record. So how did we go from new record to down fractionally? It seems that investors didn’t take kindly to the slew of new product announcements that Apple brought to the fore. There was indeed no shortage therein; Apple brought out a new 15-inch MacBook Air, a new Mac Studio geared toward the video producer, a slate of new chips, a modified iOS 17 for mobile devices, and plenty more.
This includes Apple Vision Pro, Apple’s virtual reality / augmented reality (VR / AR) display that will ultimately “…introduce us to spatial computing.” This is a huge step forward for Apple that users have craved for years. Though there was some controversy in their original manufacture, the end result will feature the ability to add elements to a two-dimensional space, use a virtual keyboard or a voice-recognition system to type, and even a system that displays your eyes when someone is near you, a system known as EyeSight.
Analysts were already over the moon for Apple, and they remain so. With 22 Buy ratings, five Holds, and one Sell, Apple stock is considered a Strong Buy by analyst consensus. Further, thanks to Apple stock’s average price target of $184.89, Apple stock boasts a small upside potential as well.
