Apple At WWDC: Expect Details On Cupertino's Next Big Products, With AI Front And Center, Analyst Says

Apple, Inc. AAPL is set to kick-start its annual Worldwide Developers Conference on June 5.

Wedbush analyst Dan Ives maintains an Outperform rating on the Cupertino, California-based company’s shares and a $250 price target for the stock.

The Apple Thesis: The spotlight will be on Apple CEO Tim Cook's keynote address, as well as new product announcements.

Ives expects Apple to unveil its mixed reality headset, likely to be named Reality Pro, a 15-inch MacBook Air, iOS 17, and some new chip updates at the event, primarily to court developers.

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MR Headset Specs, Performance: The device, with extended reality, will likely focus on gaming, streaming video, conferencing capabilities, health/fitness apps, with a range of capabilities that Apple will integrate with its other devices, Ives said. Among the anticipated specifications the analyst shared were:

• A $3,000 price point
• Running off the new xrOS
• Made of aluminum, carbon fiber and glass to reduce weight
• Two 1.41-inch Micro OLED screen with pixel density of 4,000 ppi and 5,000 nits of peak brightness
• Powered by Apple's in-house M2 chips

Apple will differentiate its Reality Pro from the other offerings in the market, including Meta Platforms, Inc. META, with its many apps and use cases, the analyst said.

Given the high price points, shipments will likely be 150,000 units in the first year, the analyst said, citing his Asia supply chain checks.

See Also: Everything You Need To Know About Apple Stock

AI – Front & Center: Ives expects AI strategy to be front and center at the WWDC. Apple has been almost silent on the AI front so far. This is going to change, Ives predicts.

"We are expecting Cook & Co. to discuss Apple’s AI strategy looking ahead and how the company can integrate and ultimately monetize its customer base around future generative AI coming from Cupertino," Ives said.

The analyst said he expects the company to have its own AI-driven solution that will be integrated into the Apple ecosystem, enabling customers to further tap into their iOS data, video, music, applications, and Apple devices through next-generation AI capabilities.

All About Developers: Microsoft Corp. MSFT and Alphabet, Inc. GOOGL GOOG are looking to put an iron fence around its all-important developer community. The June event provides an opportunity for Apple to get its shot at developers, Ives said.

“Cook will finally give details around its AI playbook and overall WWDC in our opinion will be music to the ears of consumers, investors, and developers,” he added.

Apple Price Action: In premarket trading on Wednesday, Apple shares traded down 0.19% at $176.96, according to Benzinga Pro data.

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