Apple Inc’s shares reached a new record high on Monday, marking a significant milestone after 17 months. The surge in stock prices coincided with the highly anticipated Worldwide Developers Conference (WWDC) 2023, where Apple showcased its latest offerings. Among the highlights was the introduction of a groundbreaking mixed-reality headset, signaling Apple’s entry into a new product category.
With Apple’s market capitalization now around $2.9 trillion, exceeding that of any other listed company in the U.S. by $400 billion, the company continues to demonstrate its strong position in the market. The remarkable stock performance is attributed to the unveiling of innovative hardware and the anticipation surrounding its mixed-reality headset launch.
The mixed-reality headset, which combines Virtual Reality (VR) and Augmented Reality (AR), Resembles sleek ski goggles, the headset immerses users in virtual worlds while overlaying digital images onto the real world. Although its expected price tag of $3,000 sets it apart from competing VR headsets, experts predict strong sales upon its eventual availability, projected to boost Apple’s revenues by an estimated 7%.
During the WWDC, Apple also introduced an impressive lineup of upgraded products. The highly anticipated MacBook Air, featuring an Apple-designed M2 processor chip and six speakers, dazzled the audience.
Furthermore, Apple showcased enhancements to its Mac Studio desktop machine and introduced a new version of the Mac Pro, featuring the powerful M2 Ultra chip. Aimed at demanding professional users, the Mac Pro comes with a hefty price tag starting at $6,999, reaffirming Apple’s commitment to delivering high-performance computing solutions.
In his address, John Ternus, Apple’s senior vice president of hardware engineering, emphasized that there has never been a better time for PC users to switch to a Mac, highlighting the company’s ongoing dedication to providing exceptional user experiences.
While the mixed-reality headset launch marks Apple’s vision for a post-smartphone future, the development of lightweight AR glasses is still underway and may take several more years to become a reality. Industry insiders believe that the headset will initially target enterprise clients, gamers, and developers, with subsequent generations catering to mainstream consumers. Its potential applications in healthcare, public services, and industrial settings are also noteworthy, offering possibilities for cost-effective training simulations and specialized tools.
Apple’s successful unveiling at WWDC 2023 is expected to further bolster its stock price, building upon the company’s already impressive performance this year.
Stay informed with our blog for daily business news and updates. The Direct Business.