There were some early reports that suggested the Apple (NASDAQ:AAPL) Vision Pro headset was likely to have underwhelming sales. Given that the systems were selling for $3,499 this close to Christmas, that wasn’t exactly a long shot. But it turned out to be anything but, as the tech giant brought home big wins in the pre-order space. Shares gained just over 1.5% in the closing minutes of Friday’s trading session as a result.
While no official numbers were released, one sheer point of logistics struck home just how well these devices were selling. Amit Daryanani, analyst with Evercore, noted that after just one hour, the earliest available date for delivery went from February 2 to March 8. Daryanani, in turn, suggested that likely meant “…relatively strong initial demand,” but also noted that Apple “…has likely limited volumes in the first year.”
So, yes, the available units likely sold out at high speeds, but how many of them were there to begin with? Early estimates suggest there may be as many as a million such units throughout 2024, which would bring in $3.5 billion in gross sales by itself. And if the prices decline—as they’re expected to once the clear skimming strategy settles—then Apple could ultimately bring in $19 billion.
New Twist in the Apple Watch Patent Battle
As for the ongoing trouble over the Apple Watch, that might be settled for good. Apple took the nuclear option and ultimately pulled the blood oxygen feature altogether. That makes the Masimo (NASDAQ:MASI) suit largely moot, and those who already bought Apple Watches with the blood oxygen feature in place will have no trouble either. The appeal, however, is ongoing, so Apple may be able to bring the feature back someday.
Is Delta Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 24 Buys, eight Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 39.72% rally in its share price over the past year, the average AAPL price target of $203.89 per share implies 6.42% upside potential.
