Technology giant Apple Inc AAPL unveiled its Apple Vision Pro augmented reality headset at WWDC 2023 in June of last year.
With the device set for a public release on Friday, Feb. 2, Vanity Fair is sharing its cover story and sit-down interview with Apple CEO Tim Cook.
What Happened: The Apple Vision Pro has been eagerly anticipated by Apple fans and augmented reality enthusiasts for years, and they will finally be able to get their hands on the headsets Friday with a starting price of $3,499.
"Vision Pro is a new kind of computer that augments reality, (it) will change the way we collaborate, work, enjoy entertainment," Cook said when unveiling the device.
Cook recalled his first experience with the Vision Pro six to eight years ago, before it had its current name, according to an interview with Vanity Fair.
"You weren't really wearing it at that time. It wasn't wearable by any means of the imagination," Cook said.
During the interview, Cook wears the Apple Vision Pro and is seen on screens appearing on the moon.
"Tim Cook is on the moon! He's sitting right there. On the f***ing moon!" the interviewer said.
While he's on the Moon thanks to the Vision Pro, the Apple CEO is also able to see other Apple employees in the room and can see his own hands, something other headsets haven't delivered on.
"I've known for years we would get here. I didn't know when, but I knew that we would arrive here," Cook added.
Cook called the technology of the Vision Pro "mind-blowing."
"We live in a 3D world, but the content that we enjoy is flat."
Cook said it's hard to predict exactly what the future will look like.
"What we do is we get really excited about something and then we start pulling the string and see where it takes us. And yes, we've got things on the road maps and so forth, and yes, we have a definitive point of view. But a lot of it is also the exploration and figuring out."
Apple executives praised the device while speaking to the Vanity Fair author.
"It feels like we've reached into the future and grabbed this product. You're putting the future on your face," Apple Senior Vice President of Worldwide Marketing Greg Joswiak said.
Acclaimed movie director James Cameron also praised the Vision Pro to Vanity Fair.
"I would say my experience was religious," Cameron said. "I was skeptical at first. I didn't bow down before the great God of Apple, but I was really, really blown away."
Why It's Important: While Cook, Apple executives, and movie directors love the Vision Pro, the key will be how much consumer love the device.
The Vision Pro comes with a higher price point than competing headsets, like the Meta Quest 3 from Meta Platforms META, which starts at $499.
While the Vision Pro will come with the inclusion of apps from Zoom, Microsoft and The Walt Disney Company DIS, other companies like Netflix, YouTube and Spotify are currently sitting out. Disney was part of the WWDC event, with CEO Bob Iger making an appearance. Disney will have over 150 movies in 3D available on the Vision Pro, including ones from the Marvel and Star Wars franchises.
Analysts believe the Vision Pro will be a success, but some question the time it will take to get there and if a cheaper price point is needed.
Morgan Stanley sees a ramp up to two million to four million units annually in the next five years.
Apple supply chain analyst Ming-Chi Kuo sees the Vision Pro as a niche product initially. The analyst estimates 160,000 to 180,000 units sold in pre-orders.
Wedbush analyst Dan Ives sees a cheaper price down the road. "We think a few years from now it'll resemble sunglasses and be less than $1,500," Ives told Vanity Fair.
Ives expects 600,000 Vision pro unit shipments in 2024 driven by strong pre-orders.
AAPL Price Action: Apple shares are up 1% to $186.36 on Thursday, versus a 52-week trading range of $143.90 to $199.62.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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