With Apple (NASDAQ:AAPL) set to launch its Vision Pro headsets on Friday, analysts at Wedbush now expect the company to ship over 600K headsets in 2024, up from its earlier estimate of 460K. Strong pre-orders and the growing number of apps on the new form factor support this view.
Analysts at Wedbush see these early signs of growing demand as “just the start” for Vision Pro and maintain their ‘Outperform’ rating and $250 price target on the stock.
“In our view this is the first step to Apple pushing into AI and eventually a separate AI App Store we expect Apple to discuss initially at WWDC this summer,” analysts said in a client note.
“For Apple the ultimate goal in our opinion is that Vision Pro will work alongside the iPhone and other Apple devices over the coming years with many consumer AI use cases set to explode across health, fitness, sports content, and autonomous.”
With roughly 230 native apps on the Vision Pro platform, analysts expect this number to double to around 500 apps by the summer.
“The next version of Vision Pro 2 will have much lower price points in the sub $2k area code (could be 2-3 models released) as Apple looks to push more aggressively towards its golden installed base.”
“We also believe future Vision Pro models will resemble form factors that look like sunglasses over the coming years and be a much broader reach/functionality for Apple users down the road with north of 1 million Vision Pro units our initial sales bogey for FY25,” analysts added.
Apple stock is trading slightly down at $190.50 in Tuesday’s premarket session.