Apple Vision Pro
Investment analyst firm Wedbush has revised its estimates of how many of the Apple Vision Pro will be sold in 2024 upwards, and also believes it will lead to a separate AI App Store.
In a note to investors seen by AppleInsider, Wedbush is maintaining that $250 price target, but revising upwards all its other figures regarding the company and specifically the Apple Vision Pro.
“Roughly 6 months ago the consensus view on the Street was 70k to 80k would be the initial bogeys and stretch goals for Vision Pro coming out of the gates given the high $3,500 price point and laser developer focus,” say the analysts. “Fast forward to pre-orders hitting the Apple website this past Friday and based on our initial reads/delivery times it looks like close to 180k Vision Pro units were sold over the weekend in a very impressive Cupertino launch.”
“We now expect Apple to ship and sell roughly 600k Vision Pro headsets for 2024 vs. our prior estimate of 460k given the demand trajectory and number of apps on the new form factor look robust and growing,” the note continues. The official launch date for Vision Pro is next Friday, February 2nd with demos kicking off in Apple stores which should generate incremental interest from Apple loyalists, power users, developers, and technologists globally.”
Wedbush estimates that there “are roughly 230 native apps on the Vision Pro platform” but that it expects that “to double to close to 500 apps by the summer as more developers head down this path for AR/VR.”
Citing what it describes as its industry checks, Wedbush says that the next version of Apple Vision Pro will cost below $2,000 — and that there may be two or three models released.
“We also believe future Vision Pro models will resemble form factors that look like sunglasses over the coming years,” it says, “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.”
As well as the future for Apple’s headset itself, Wedbush is adamant that Apple Vision Pro is the start of the company’s AI program.
“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,” it says. “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.”
“While many on the Street are dismissing Vision Pro as noise,” it continues, “we strongly disagree and believe its the first step towards a much broader technology vision that Cook & Co. plan to push to its golden Cupertino installed base over the coming years.”
