Observers are watching Apple stock, and expect it to rise as Apple announces a new augmented or virtual reality headset.
Apple Inc (NASDAQ:AAPL) stock is on track to open to an all-time high as the tech giant prepares to launch its first augmented reality (AR) and virtual reality (VR) headset. This launch is considered by many to be one of the most important Apple product launches in the company’s nearly 50-year history.
AAPL share price rose over 1% to over $182 as the market moved through pre-market trading. So far, AAPL’s year-to-date numbers are up 39.27%, with its year-over-year gain of 23.82%, according to MarketWatch figures.
Apple’s numbers look relatively strong, especially considering its most recent Earnings report For the second quarter of 2023. Interestingly, iPhone reported a 3% year-over-year decline in quarterly revenue to $94.8 billion and $1.52 per diluted share. However, CFO Luca Maestri said the company generated $28.6 billion in operating cash flow. Maestri also said that Apple returned more than $23 billion to shareholders during the quarter. The Board of Directors declared common stock at $0.24 per share, an increase of 4%.
Speaking about AAPL’s performance, DFD Partners CEO Devon Drew said Apple is in a good position and is strong enough to withstand potential volatility. According to Drew:
“Even as they scale up, they still look like a quality company, with lots of cash, constant innovation, a solid budget, and a large customer base that’s upgrading their products. It should keep growing, but it can also weather any storm. That means They work in both risky and hazardous environments, and that makes me really excited to own them.”
If maintained, Apple’s price increase could give the company an added value of $16.5 billion.
Apple Stock Benefit from the Launch of AR/VR Headsets
The 2023 Apple Worldwide Developers Conference (WWDC) kicks off today at the Apple Park campus in Cupertino, California. At the event, Apple plans to launch several releases, including updates to the existing operating system and a new AR/VR headset.
The Reality Pro headset is expected to cost around $3,000, and it will feature advanced eye and hand tracking, according to the leaks. Users should be able to control objects or images just by looking at them and making choices with the pinch of their thumb and forefinger. The device will have internal sensors to see eye orientation, along with external cameras to capture hand movements.
Mac rumors He says The performance of the new headset will compete favorably with Macs. Also, although users can pair the headset with an iPhone for easy data transfer or writing, pairing is not necessary for use. The headset should come with 4K Ultra HD OLED screens, each at up to 3000 pixels per inch.
Apple stock is likely to benefit from the hype surrounding the headset announcement and the features that are likely to be announced. The company reportedly built a dedicated structure to supply demos to a small number of attendees.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify cryptocurrency stories down to the bare essentials so that anyone anywhere can understand without much background knowledge. When he’s not deep into cryptocurrency stories, Tolo enjoys music, loves to sing, and is a movie lover.
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