Tech titan Apple (AAPL) has its sights set on a revamped and less expensive Vision Pro headset.
According to a report on Bloomberg, Apple is working on a new headset that is both lighter and less expensive than the current model which weighs in at up to 1.5 pounds and has a base price of $3,499 in the U.S.
Lower Latency
Bloomberg’s Mark Gurman writing in the latest edition of his Power On newsletter also stated that Apple is developing another version of the Vision Pro that can make a wired connection to a Mac, providing a low latency experience. This seems to be comfortingly good news for certain users of the headsets and anyone else with an upcoming flight or medical appointment.
“The idea is to create an ultra-low-latency system for streaming a user’s Mac display or for connecting to high-end enterprise applications,” said Gurman. “Some customers have been using the Vision Pro for things like viewing imaging during surgery or for flight simulators. Those are two areas where a user would want the least amount of lag possible — something that can’t be guaranteed by a fully wireless system.”
Gurman did not say when Apple is planning to release either of the two new versions of the headset. The current version has been on the market since February 2024.
Eyeing up Huge Market
Earlier this year Apple said that it was also looking to integrate Apple Intelligence features into the Vision Pro such as smart tools like Writing Tools, Genmojis, and the Image Playground app. Apple also plans to launch a spatial content app for the Vision Pro.
According to reports, Apple needs to boost demand for the Vision Pro with sales falling behind expectations and production being reduced.
But it is clearly a market it and other tech giants are keeping a close eye on. The mixed reality market is projected to reach $5.87 billion in 2025 and grow to $38.08 billion by 2030, reflecting a CAGR of 45.34%, according to Grand View Research.
Is AAPL a Good Stock to Buy Now?
On TipRanks, AAPL has a Moderate Buy consensus based on 18 Buy, 12 Hold and 3 Sell ratings. Its highest price target is $300. AAPL stock’s consensus price target is $245.03 implying an 23.66% upside.
