$3,500 Apple Headset? No Problem! Apple Vision Pro Blows Past Expectations, Wedbush Upgrades 2024 Sales Prediction
Portfolio Pulse from Rounak Jain
Apple Vision Pro's initial sales exceeded expectations, with estimates of 180,000 units sold in the first weekend, doubling the consensus forecast of 70,000 to 80,000 units. Wedbush analysts have upgraded their 2024 sales prediction for the headset to 600,000 units, a 30% increase from the previous estimate of 460,000 units. Despite the absence of major apps like Netflix, YouTube, and Spotify, the brokerage is bullish on the product's future, expecting a broader range of more affordable models. Wedbush maintains an 'Outperform' rating on Apple with a target price of $250.
January 25, 2024 | 8:56 am
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POSITIVE IMPACT
Apple's Vision Pro headset sales surpassed expectations, leading Wedbush to upgrade its 2024 sales forecast to 600,000 units. The firm maintains an 'Outperform' rating with a target price of $250.
The positive sales performance of Apple Vision Pro and the upgraded sales forecast by Wedbush are likely to be viewed favorably by investors, potentially leading to a short-term increase in Apple's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Alphabet's YouTube is also not available on the Apple Vision Pro, which may affect the device's appeal to consumers.
The absence of YouTube on the new Apple device could have an impact on consumer preferences, but the direct effect on Alphabet's stock is uncertain in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Alphabet's YouTube is also not available on the Apple Vision Pro, which may affect the device's appeal to consumers.
The absence of YouTube on the new Apple device could have an impact on consumer preferences, but the direct effect on Alphabet's stock is uncertain in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Netflix is mentioned as one of the major apps not available on the Apple Vision Pro, which could influence consumer adoption of the device.
While the lack of Netflix on the Apple Vision Pro may affect consumer interest, it is unclear how this will directly impact Netflix's stock in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Spotify Technology is reported to be another major app not featured on the Apple Vision Pro, potentially influencing the device's market penetration.
Spotify's non-inclusion in the Apple Vision Pro's app lineup may affect user experience, but it's not clear how this will immediately affect Spotify's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30