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Apple (AAPL) announced Monday that it will launch its new Vision Pro headset in the U.S. on February 2, which CEO Tim Cook described as the dawn of spatial computing.
Customers can get the headset, which comes with 256 GB of storage and retails for $3,499, at Apple Store locations in the U.S. and online stores. The company says pre-orders for the device will begin on January 19th.
Apple shares rose nearly 1.5% on the move, giving the stock a victory after a difficult week.
The official release of the VR and augmented reality headset marks a key moment for the company, as consumers will get Apple’s biggest product launch in nearly a decade.
“The era of spatial computing has arrived,” Cook said in a statement. “Apple Vision Pro is the most advanced consumer electronic device ever created. Its innovative and magical user interface redefines the way we connect, create, and explore. You will.”
Apple’s long-awaited expansion of its hardware lineup comes at a difficult moment for the tech giant. Cupertino is coming off a rough week in which traders wiped out more than $175 billion in market capitalization after two analyst downgrades triggered a painful selloff.
Apple’s stock price has been closely watched because it is the most valuable company on the market and accounts for a significant portion of the benchmark S&P 500 index. A company’s financial performance can influence the broader stock market. And with Apple’s huge user base and presence in key markets like China, the company also serves as a beacon of global economic health.
Headsets in particular are a test for Apple to chart a new path as older hardware categories, including the iPhone, reach maturity.
Observers more critical of Apple argue that the demand for cooling for its devices signals the slow demise of the company. But bulls argue that Wall Street is underestimating the appeal of Apple’s devices. They also highlight the huge potential for Apple to grow its services business. Wedbush’s Dan Ives, a noted Apple optimist, estimates that Apple’s services division alone is worth a staggering $1.6 trillion.
Vision Pro runs on a new operating system called visionOS and features a new three-dimensional user interface and inputs controlled by the user’s eyes, hands, and voice. Apple’s device goes head-to-head with Meta’s (META) Quest headset as Silicon Valley looks to market augmented reality and virtual reality as the next frontier in technology, alongside rapid advances in generative AI The U.S. tech giants will face off against each other.
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