Observers are watching Apple stock, expecting that it would spike as Apple announces a new headset for augmented or virtual reality.
Apple Inc (NASDAQ: AAPL) stock is on track to open at a possible all-time high as the tech giant prepares to launch its first-ever augmented reality (AR) and virtual reality (VR) headset. The launch is considered by many as one of Apple’s most significant product launches in the company’s nearly 50-year history.
AAPL has climbed over 1% to more than $182 as the market pulses through premarket trading. So far, AAPL’s year-to-date (YTD) figures have risen 39,27%, with its 1-year gain at 23.82%, according to MarketWatch figures.
Apple’s figures seem relatively strong, especially considering its recent earnings report for Q2 2023. Interestingly, the iPhone maker reported a 3% year-over-year (YoY) decrease in quarterly revenue to $94.8 billion and $1.52 earnings per diluted share. However, CFO Luca Maestri said the company achieved $28.6 billion in operating cash flow. Maestri also said Apple returned more than $23 billion to shareholders during the quarter. The board of directors declared a common stock $0.24 per share cash dividend, a 4% increase.
Speaking on AAPL’s performance, DFD Partners’ chief executive officer Devon Drew said Apple is in a good place and is strong enough to withstand possible fluctuations. According to Drew:
“Even with how much it has risen, it still feels like a quality company, with a lot of cash, continued innovation, a fortress balance sheet, and a large customer base upgrading their products. It should continue to grow, but it can also weather any storm. That means it works in both risk-on and risk-off environments, and that makes me very excited to own it.”
If maintained, Apple’s price increase can give the company an added value of $16.5 billion.
Apple Stock to Benefit from AR/VR Headset Launch
The 2023 Apple World Wide Developers Conference (WWDC) kicks off today at the Apple Park campus in Cupertino, California. At the event, Apple plans multiple launches, including updates to its existing operating system and a new AR/VR headset.
Expected to cost around $3,000, the Reality Pro headset will have advanced eye and hand tracking, according to leaks. Users should be able to control objects or images simply by looking at it, and selecting by pinching the thumb and index fingers. The hardware will feature internal sensors to see the direction of the eyes, along with external cameras to pick up on hand movements.
MacRumors says the new headset’s performance will compete favorably with Macs. Also, although users can pair the headset with an iPhone for easy data transfer or typing, pairing will not be necessary for use. The headset should come with 4k high-res micro OLED displays, each with up to 3,000 pixels per inch.
Apple’s stock will likely benefit from the buzz surrounding the headset announcement and features likely to be publicized. The company has reportedly built a structure dedicated to providing a few attendees with demos.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
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