Remember when there was hope that the Apple Vision Pro headset might be affordable once Apple (NASDAQ:AAPL) released a new, slimmed-down version? Well, that hope is actually a little stronger, at least for now, as the tech giant has halted all work on the expensive version in favor of a scaled-down version. That didn’t sit well with investors, who sent share prices down modestly in the closing minutes of Tuesday’s trading session.
The plan to bring out a less expensive version of the Apple Vision Pro headset is now getting a little more force behind it. It would ultimately make the Vision Pro into a two-line model, almost like the iPhone lineup. There was no shortage of criticism for Apple when the Vision Pro was released; it wasn’t that people weren’t interested, but rather that people weren’t in much of a position to drop that kind of money on a peripheral. Even an impressive one. However, it may be able to get some more interest going now that there will, hopefully, be a version that will still let you afford food after buying one.
Apple “Will Own AI”
Meanwhile, a new boost came out from Wedbush’s Daniel Ives, who offered the dramatic pronouncement that Apple would “own AI in the consumer” in short order. Ives drew a vital conclusion, noting that Apple doesn’t need “…to be first” since it has “…over 2.2 billion iOS devices.” That, in turn, drives about 25% of the world to access AI through Apple, and that means a whole lot of traffic and cash accordingly.
In fact, since Apple is pursuing a comparatively different kind of AI as demonstrated with its Apple Intelligence platform, it may be able to comfortably coexist and poach other market share without actually taking it away.
What Is the Forecast for Apple Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 23 Buys, 11 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 16.82% rally in its share price over the past year, the average AAPL price target of $210.86 per share implies 1.72% downside risk.
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