Earning reports are our bread and butter when it comes to making money – but there's another event from Apple (AAPL) that we're watching like a hawk this week. Its Worldwide Developers Conference (WWDC). Heading into today's kickoff, the rumor mill was swirling that Apple could unveil a new VR (virtual reality) headset. It did: The Apple Vision Pro. Consumers can get their hands on one of the ski mask-looking devices starting early next year – if they're willing to shell out a hefty 3,499 bucks. The Vision Pro skews more heavily into augmented reality (AR) than it does VR, as rumored. AR uses a real-world backdrop "augmented" with virtual components (think Pokémon GO) while VR uses a purely virtual environment. But consumers will be able to switch between AR and VR relatively easily while using the device. The Vision Pro marks the first major product announcement since the Apple Watch in 2015. And AAPL shares were already surging to all-time highs today on nothing but rumors of its launch. The unveiling of the rumored VR headset was a kind of "make-or-break" situation for Apple. Its last earnings report was a mixed bag: Shares rose slightly (just 2%) on better-than-anticipated iPhone sales, which came even as the smartphone industry overall contracted about 15%. That proved to investors that Apple still has its key edge over the competition. But overall sales dropped for the second-consecutive quarter (revenue was down 3% year-over-year) while Mac, iPad, and services underperformed. And looking ahead, LikeFolio demand data for Apple continues to weaken. Meaning: Apple needed to shake things up and inject new life into its product lineup if it wants to keep up in this evolving tech landscape. But was the Vision Pro we saw today enough to keep Apple's stock climbing? Today, I'll show you just how pivotal of a moment this is for the iconic tech company... Click here for the full story |
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