Apple Stock Drops After Vision Pro Headset Announcement
Apple stock lost value shortly after reaching a record-high of $128.90 at around 1:15 PM, June 5, 2023. However, It slid back later afternoon to $179.58, losing 1% of its price. The decline started when the tech company revealed its Apple Vision Pro headset during the Worldwide Developers Conference.
This incident shows how real life affects stock valuations. Modern technology lets us see how real-world events change investor sentiment and shift share prices. Also, analyzing this phenomenon can help you decide whether to buy the latest Apple headset. If investors lost confidence in Apple because of it, should you still order one?
This article will discuss how Apple stock lost value due to the Apple Vision Pro. I will cover various opinions expressing their disappointment with this device. Also, I will elaborate on the headset’s expected features.
Article continues after this advertisementWhy was the Apple Vision Pro disappointing?
Apple’s stock dropped today after the much-hyped release of its virtual reality headset Vision Pro, its first major new product in a decade. https://t.co/WdqMuW7z9j pic.twitter.com/nYKROjxuLX
— FORTUNE (@FortuneMagazine) June 5, 2023
The Apple Vision Pro headset seems to be a revolutionary device that makes mixed reality more practical. Yet, it caused some investors to reduce their Apple investments.
Rosenblatt investment analyst Barton Crockett declared the “bar is set low” to entice investors. Also, he said, “Nobody expects this to be a financially meaningful product near-term.”
Article continues after this advertisementThe company struggled in 2022 due to the China coronavirus lockdowns. Those limited Apple’s supply chain, preventing the company from raising its stock price.
Investors expected the tech giant to rise again, so they felt excited about WWDC 2023. It would have shown new products and services that could increase customers and sales.
However, Apple disappointed investors immediately after it said it would release the product in 2024. As a result, it will not impact 2023 sales figures.
That date was the last straw for some investors. They pulled out their investments, causing Apple stock to decline by a percent within a trading day.
Others thought its competitors were more promising, according to Seeking Alpha. The $3,499.00 price tag is a huge turn-off for most customers.
That was likely the reason why it focused on business uses. The price makes it less appealing to regular customers, but perhaps businesspeople are more willing to get it for work.
You may also like: Elizabeth Holmes Gets 11 Years In Prison For Theranos Fraud
In contrast, the Meta Quest 3 will cost roughly $299.99 to $349.99, depending on the storage capacity. More importantly, it will launch in late 2023.
Most people get VR headsets for gaming, but the Apple Vision Pro lacks features. The demo video only showed a person playing a regular video game on a screen.
Other headsets show how they generate hyper-realistic virtual worlds. Apple said people could play games from the Apple Arcade. However, that contains mostly iPhone and iPad games.
What are the features of the Apple Vision Pro?
Welcome to the era of spatial computing with Apple Vision Pro. You’ve never seen anything like this before! pic.twitter.com/PEIxKNpXBs
— Tim Cook (@tim_cook) June 5, 2023
Despite tanking the Apple stock price, the Vision Pro still has interesting features. For example, the headset doesn’t have dangling wires or controllers.
You control it only with gestures and other movements. Also, it shows your apps around you instead of limiting them to your display. As a result, you can easily find apps by turning your head.
You may also like: Apple Vision Pro Headset Features
You may also view pictures and videos, letting you relieve precious moments. Moreover, the headset makes you feel like you are part of Panorama photos.
The Vision Pro can turn any space into a virtual movie theater, letting you fully immerse yourself in your favorite TV shows and movies. Also, the headset lets you have a workstation wherever and whenever.
Connect your Magic Keyboard and Trackpad to turn your surroundings into a digital workplace. Also, the Apple Vision Pro represents you as a digital avatar called a Persona during FaceTime calls.
Conclusion
The Apple Vision Pro disappointed investors, causing Apple stock to lose value within a trading day. Other people weren’t impressed with its lackluster features either.
This sentiment may not bode well for the $3,500 headset. On the other hand, it may attract more customers and sales to the company once it launches in 2024.
Meanwhile, you should check other VR headsets like the Meta Quest 3 to expand your options. You can learn more about the latest digital goodies and other trends at inquirer Tech.
