Key Takeaways
- Apple Inc. shares rose Monday after the iPhone maker announced that its Vision Pro virtual reality (VR) headset would launch in the U.S. on Feb. 2.
- The spatial computer headset will cost $3,499 and preorders will start on Jan. 19.
- The Vision Pro could allow Apple to compete with Meta Platforms Inc.’s Quest 3, which captured the majority of the virtual reality headset market in 2023.
- Jefferies Group LLC analysts projected that the Vision Pro could retain just 4% of headset market share this year as Apple’s price is significantly higher than Meta’s Quest 3, which starts at $500.
Apple Inc. (AAPL) shares climbed during intraday trading on Monday after the iPhone maker announced a launch date early next month for its Vision Pro virtual reality (VR) headset.
The spatial computer headset will launch in the U.S. on Feb. 2, with preorders opening on Jan. 19. It will cost $3,499, with prescription lens add-ons costing $149.
“Apple Vision Pro is the most advanced consumer electronics device ever created. Its revolutionary and magical user interface will redefine how we connect, create, and explore,” Tim Cook, Apple‘s chief executive officer (CEO), said.
The headset “seamlessly blends digital content with the physical world and unlocks powerful spatial experiences in visionOS, controlled by the most natural and intuitive inputs possible—a user’s eyes, hands, and voice,” Apple said.
The Vision Pro could allow Apple to compete with Meta’s (META) Quest 3 headset, which held 55% market share for VR headsets in the third quarter of 2023, according to IT market intelligence firm International Data Corp.
Jefferies Group securities analysts project that Apple will capture just 4% of VR headset market share, with around 400,000 units shipped in 2024. The firm noted that Vision Pro is to be sold at a higher price point than other comparable headsets like the Meta Quest 3, which starts at about $500.
Apple is said to already be working on a cheaper version and a second-generation Vision Pro, according to UBS analysts, which could help address pricing concerns.
Apple shares were up roughly 1.8% at $184.37 at 2:00 p.m. ET Monday.