With Apple’s (NASDAQ:AAPL) annual WWDC developers’ conference right around the corner, the buzz is growing around their much-anticipated mixed-reality headset debut. It’s been a while since Apple released a significant new product – their last big reveal was the Apple Watch back in 2015. With this new venture into augmented and virtual reality, Apple’s going into a market that hasn’t quite hit the mainstream yet. Though Meta Platforms (NASDAQ:META) has made a hefty bet on virtual reality with their Oculus headset, its mainstream acceptance has been limited.
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Apple, on the other hand, has a knack for transforming tech categories into widespread trends. The Goldman Sachs analyst team is confident that Apple might pull off this magic trick once again with the Reality Pro headset. “Apple’s potential AR/VR headset can succeed where others have not, given Apple’s unique advantages compared to competing headset manufacturers,” notes lead analyst Michael Ng.
Apple’s user base of over 1.1 billion active iPhone users and its broad developer network are key assets. These resources can be harnessed to create captivating content and adapt important first-party apps, like Facetime, Apple TV+, and Apple Music, into mixed reality.
Overall, analysts are broadly in favor of AAPL stock, with Wall Street rating it a Strong Buy based on 23 Buys, four Holds, and one Sell assigned in the past three months.
