Apple's Reality Pro to Set New Trends in Mixed Reality Market: Analyst

Posted By: ndeeney

Wedbush analyst Daniel Ives maintains an Outperform rating on Apple Inc (NASDAQ: AAPL) with a price target of $205.
Apple will kick off its annual WWDC in Cupertino next week with all eyes on CEO Tim Cook’s keynote Monday to set the tone for developers and announce new products.
Apple finally looks to unveil its mixed reality headset product, Reality Pro, with price points in the ~$3k range running off a new operating system called xrOS.
The company also looks to showcase a 15-inch MacBook Air, iOS 17, and some new chip updates, as this event is about courting developers.
While other AR headsets have shown tepid success, like Meta Platforms Inc’s (NASDAQ: META) Quest, Ives believes Apple’s Reality Pro will have many apps and use cases to distinguish this new product within the Cupertino hardware arsenal.
He believes that based on the supply chain tea leaves, the device is made of aluminum, carbon fiber, and glass to reduce the weight and feel for the consumer.
Given the high price points, the analyst believes initial shipments will be roughly 150k units for Year 1 based on recent Asia supply chain checks.
Ives expects Apple to voice its AI strategy and its monetization.
Price Action: AAPL shares traded higher by 1.10 at $179.25 on the last check Wednesday.
Man wearing VR headset photo via Wikimedia Commons

Latest Ratings for AAPL

Date	Firm	Action	From	To
Mar 2022	Barclays	Maintains		Equal-Weight
Feb 2022	Tigress Financial	Maintains		Strong Buy
Jan 2022	Credit Suisse	Maintains		Neutral

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This article Apple’s Reality Pro to Set New Trends in Mixed Reality Market: Analyst originally appeared on Benzinga.com

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