Apple’s highly anticipated reveal of their AR headset, the Vision Pro, has finally arrived, and while it was expected, reactions have been mixed in the aftermath. The device’s price of $3,499 has left some investors wondering if it will ever be a hit with consumers. This uncertainty has reflected a decrease in Apple’s stock price by 0.81%, from $184.95 to $178.16. However, Unity’s stock has seen a rise of 17.2% after being front and centre of Apple’s developer plans. Walt Disney Co. also saw a 0.3% rise in their stock price after endorsing the product and showcasing their wide range of brands and content heading towards the device, making the hardware more mainstream.
Stock Market Reactions
The announcement caused immediate reactions in several key stock prices. Apple shares hit an intraday high of $184.95, going into the event closing in on a market valuation of $3 trillion. However, in the cold light of day post event the stock price has since fallen 0.81% to $178.16, at the time of writing, reflecting uncertainty in whether the new headset can and will ever hit it out of the park.
All of which is thoroughly in-line with previous Apple announcements. As the showmen of the home computing and mobile worlds, the company tends to see rising stock prices prior to an announcement, as rumours of “the next big thing” become increasingly believable. However, this is almost always followed by a quick fall as investors try to understand the implications of the new product, trying to figure out if it can live up to the hype.
Looking to the Future
While the Vision Pro is certainly an impressive step in a new direction and has huge potential implications for the vast mobile gaming market, its price tag and limited use cases leave many wondering about its future. Like the iPhone and Apple Watch, it will take several more iterations of the product for developers to step in and create apps and use cases that will draw consumers.
Effects on Unity and Walt Disney Co.
On the other side of the coin, things are looking up for feedback from two giant companies, Unity and Walt Disney Co. Following the Apple event, Unity saw an increase in stock by 17.2%, and Walt Disney Co. saw a 0.3% increase. Bob Iger, the CEO of Disney, even took a chunk of the reveal to showcase the broad range of content and brands that will be available on the Vision Pro. This technology could provide video content, sports animation, and more immersive games than ever before, each of these well-known brands pushing the hardware mainstream.