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Apple (AAPL) to Enter VR Space With Expected Headset Launch
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Apple (AAPL - Free Report) is expected to launch its first virtual reality (VR) headset in 2022, which will be a forerunner of its much-anticipated augmented reality (AR) glasses, per a Bloomberg report cited by 9TO5 Mac.
The headset, which is likely to be in the late prototype stage, is expected to be powered by a chip that gives better performance than Apple’s M1 Mac processors. Also, the users can operate this standalone device on a battery, instead of plugging it to a wall or Mac.
Moreover, along with VR features like a completely simulated 3-D digital environment, the device might include limited AR functionalities.
The iPhone-maker is likely to price its VR gadget higher than most of the VR devices in the market, which are available in the range of $300-$900. It is anticipated that the product might sell just one headset per day in each of its 500 retail stores.
Markedly, the device falls in line with Apple’s products like Mac Pro and Pro Display XDR in terms of high-end pricing.
Apple’s entry will intensify competition in the VR device market, which includes devices such as Facebook’s Oculus Quest 2, Sony’s PlayStation VR, Microsoft’s (MSFT - Free Report) Windows Mixed Reality and HTC’s Vive and Vive Pro.
Meanwhile, Apple’s shares have returned 71.5% over the past year compared with the Zacks Computer - Mini computers industry’s growth of 66.1%.
Growing Traction in AR and VR Markets to Drive Prospects
AR and VR technologies have been gaining significant momentum across organizations due to their capability to facilitate real-time interaction between real-world and virtual objects. The global pandemic has further accelerated the demand for these technologies to enable personalized interactions in a remote working environment.
According to IDC, global spending on AR and VR is expected to reach $72.8 billion in 2024 from $12 billion in 2020, reflecting a CAGR of 54%.
Additionally, per a MarketsandMarkets report, the AR market is likely to grow to $77 billion by 2025 from $15.3 billion in 2020. The report also forecasts the VR market to reach $20.9 billion in 2025, from 6.1 billion in 2020. The AR and VR markets are expected to see a respective CAGR of 38.1% and 27.9% through 2020-2025.
Notably, Apple is leveraging on these opportunities with its continuous developments in AR and VR spaces. The company is said to be developing a new operating system (rOS) for AR and VR hardware.
The company’s acquisition of NextVR, a VR start-up that offers recorded video content from concerts and sports games, in May 2020, is noteworthy in this regard.
Moreover, Apple’s AR Quick look, powered by its ARKit, allows users to view virtual objects in 3D or AR on their iPhones and iPads along with audio playback. The company’s ARKit enables third-party developers to work on creating AR experiences for its iOS platform.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Apple (AAPL) to Enter VR Space With Expected Headset Launch
Apple (AAPL - Free Report) is expected to launch its first virtual reality (VR) headset in 2022, which will be a forerunner of its much-anticipated augmented reality (AR) glasses, per a Bloomberg report cited by 9TO5 Mac.
The headset, which is likely to be in the late prototype stage, is expected to be powered by a chip that gives better performance than Apple’s M1 Mac processors. Also, the users can operate this standalone device on a battery, instead of plugging it to a wall or Mac.
Moreover, along with VR features like a completely simulated 3-D digital environment, the device might include limited AR functionalities.
The iPhone-maker is likely to price its VR gadget higher than most of the VR devices in the market, which are available in the range of $300-$900. It is anticipated that the product might sell just one headset per day in each of its 500 retail stores.
Markedly, the device falls in line with Apple’s products like Mac Pro and Pro Display XDR in terms of high-end pricing.
Apple’s entry will intensify competition in the VR device market, which includes devices such as Facebook’s Oculus Quest 2, Sony’s PlayStation VR, Microsoft’s (MSFT - Free Report) Windows Mixed Reality and HTC’s Vive and Vive Pro.
Meanwhile, Apple’s shares have returned 71.5% over the past year compared with the Zacks Computer - Mini computers industry’s growth of 66.1%.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Growing Traction in AR and VR Markets to Drive Prospects
AR and VR technologies have been gaining significant momentum across organizations due to their capability to facilitate real-time interaction between real-world and virtual objects. The global pandemic has further accelerated the demand for these technologies to enable personalized interactions in a remote working environment.
According to IDC, global spending on AR and VR is expected to reach $72.8 billion in 2024 from $12 billion in 2020, reflecting a CAGR of 54%.
Additionally, per a MarketsandMarkets report, the AR market is likely to grow to $77 billion by 2025 from $15.3 billion in 2020. The report also forecasts the VR market to reach $20.9 billion in 2025, from 6.1 billion in 2020. The AR and VR markets are expected to see a respective CAGR of 38.1% and 27.9% through 2020-2025.
Notably, Apple is leveraging on these opportunities with its continuous developments in AR and VR spaces. The company is said to be developing a new operating system (rOS) for AR and VR hardware.
Moreover, this Zacks Rank #2 (Buy) company is reportedly working on AR projects to extend its footprint in the fast-emerging AR market and is anticipated to release its AR devices by 2023. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s acquisition of NextVR, a VR start-up that offers recorded video content from concerts and sports games, in May 2020, is noteworthy in this regard.
Moreover, Apple’s AR Quick look, powered by its ARKit, allows users to view virtual objects in 3D or AR on their iPhones and iPads along with audio playback. The company’s ARKit enables third-party developers to work on creating AR experiences for its iOS platform.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>