Securities house has high praise for Vision Pro calling it a "potential game-changer"
Analysts at Wedbush Securities say that the release of the Vision Pro is giving Apple a boost which is something that the firm is calling a "product renaissance." Wedbush says that customers are entering the Apple Store with a "curiosity and intrigue for demos and purchases" that Apple hasn't "seen in years."
In a Sunday note to investors from Wedbush that AppleInsider was able to read, the securities firm said, "We believe Apple Vision Pro is a potential game-changer over the coming years and Cupertino has found clear success with this next generation form factor surpassing by a wide margin original Street expectations." Still, Wedbush acknowledged the high retail price points for the spatial computer as something that can negatively impact demand.
The Vision Pro starts at $3,499 for the model with 256GB of memory (or 12 monthly payments of $291.58) and increases to $3,699 for 512GB of storage (or 12 monthly payments of $308.25), and $3,899 for 1TB of storage (or 12 monthly payments of $324.91). The securities house says taking into consideration the pricing and the "limited audience outside of developers," it is "surprised at the early mass market appeal Vision Pro is sparking." The initial 600 apps available for the headset are "well above expectations," Wedbush says.
Vision Pro is leading us toward a future that Google saw when it released Google Glass
Wedbush predicts that the current model is "just the start for Vision Pro" and the second-gen version could be priced under $2,000 with as many as three different models available. The securities firm agrees with me that this journey that starts with the Vision Pro ends up with AR specs. This product, rumored to be called Apple Glass, will have a form factor that resembles a pair of sunglasses and the device will become a replacement for the iPhone.
Wedbush also sees the Vision Pro leading Apple to open an AI App Store and expects the release of the iPhone 16 series later this year to include generative AI which the firm says "will mark the start of a new frontier of growth for the golden installed base of Cupertino." The securities firm disagrees with other analysts and securities firms who are "dismissing Vision Pro as noise." Wedbush says that the spatial computer is the "first step towards a much broader technology vision that Cook & Co. plan to push to its installed base over the coming years."
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