After recently unveiling its Vision Pro AR headset, Apple stock reached an all-time high on Monday, closing at $183.79 per share. The stock rose more than 1.5% during the day, driven by strong earnings and revenue reports.
The tech giants reached this new milestone a week after showcasing its Vision Pro headset at WWDC. The $3,499 Vision Pro is Apple’s first all-new product line since its smartwatch in 2014.
The Vision Pro effect
Apple’s $3,499 AR headset can succeed in areas where other AR/VR headsets have struggled to make an impact, according to some industry experts as reported by CNBC.
Despite a mixed reaction from the public after the Vision Pro was announced, the spike in Apple’s stock shows that the headset, despite not being available until next year, is already looking like a positive investment for Apple.
The tech giant has partnered with Disney to bring exclusive content from the Marvel universe to the Vision Pro. Apple also partnered with Zeiss to add optical inserts that magnetically attach to the lenses for people who wear glasses.
New devices and updates
Apple has also unveiled a new and bigger MacBook Air laptop to boost Mac sales, according to CNBC. In addition, the iPhone company also announced high-end desktop computers specifically for 3D designers and programmers.
Not stopping there, the company also showcased significant updates to some of its flagship devices. This includes the iPhone, iPad, and Apple Watch. These updates are designed to enhance the functionality and user experience.
This new surge comes despite Apple CFO Luca Maestri speculating in May that the company’s revenue may decline by around 3% on an annual basis during the current quarter. It’s worth noting that despite Monday’s stock price reaching an all-time high when adjusted for splits, Apple’s current market capitalisation does not set a new record due to the company’s share buyback program.
As per FactSet data, Apple remains in the trillion-dollar club – as recently joined by Nvidia, thanks to its AI efforts – with an estimated value of $2.89 trillion alongside other tech giants including Google and Amazon.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
