Apple’s (AAPL) Vision Pro headset, launched earlier this year, is struggling to attract major software developers to create apps for the device, according to the Wall Street Journal. This lack of app support could slow its adoption and hinder its long-term success.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The absence of developer interest stems from concerns about investing resources in a device with an uncertain user base. To address this issue, Apple may need to offer incentives such as funding or support to encourage app development for Vision Pro. This approach has worked in other industries, like the VR market, where Meta Platforms (META) successfully incentivized developers.
AAPL’s Headset Witnesses Slow App Growth
Despite the initial excitement, Vision Pro’s app ecosystem has seen a slowdown in growth. The number of new apps released each month has dropped since its launch. According to analytics firm, Appfigures, only 10 apps were added to the Vision App Store in September, a stark contrast to the hundreds introduced during the initial launch period.
Also, the Vision Pro’s app growth lags behind the iPhone and Apple Watch. The iPhone App Store hit 50,000 apps within its first year, while the Apple Watch reached 10,000 apps in just five months.
The shortage of killer apps, or must-have apps, has directly impacted the user experience of the Vision Pro, with some users even choosing to sell their devices due to the limited app options.
To conclude, the future of Vision Pro is tied to Apple’s ability to attract developers and offer users a compelling app experience. Without this, the headset’s success remains uncertain.
Is AAPL Stock a Good Buy?
Turning to Wall Street, AAPL has a Moderate Buy consensus rating based on 23 Buys, 10 Holds, and one Sell assigned in the last three months. At $248.90, the average Apple price target implies a 9.38% upside potential. Shares of the company have gained 18.64% year-to-date.
