Apple Stock Hits Record High During WWDC, Tumbles After Vision Pro AR Headset Price Tag Unveiled

Apple's highly anticipated Worldwide Developers Conference (WWDC23) event sent waves of enthusiasm throughout the tech community as the tech titan unveiled a wave of innovative products and features within its universe.

The stock's price movements have been, to say the least, volatile. 

Apple, Inc. AAPL shares briefly broke the previous record of $182.94 established on Jan. 4, 2022, establishing a fresh all-time high Monday at $184.95.

After the company unveiled its first augmented reality headset, Apple Vision Pro, shares pulled back — contrary to what many had anticipated.

Apple's year-to-date performance has been impressive, with gains nearing 50% in less than five months. This incredible run puts the company on track to accomplish six straight months of growth, a feat not seen since 2014.

Chart of The Day: Apple Jumps To All-Time Highs Before Tumbling On AR Headset Announcement

What Did Apple Announce At WWDC23?

• New 15.3-inch MacBook Air announced, featuring the powerful M2 chip, six speakers, and a remarkable 18-hour battery life. Price: $1,299.
• Mac Studio desktop unveiled, targeting creative professionals and software developers. Equipped with the M2 max chip, offering a 25% speed boost compared to the previous M1 max. Price: $1,999.
• Mac Pro desktop system introduced, featuring Apple Silicon and the groundbreaking M2 Ultra chip. Claimed to be the "largest and most capable chip ever created for a personal computer." Prices start from $6,999.
• New iOS17 announced for iPhone and iPad, introducing a range of new features and personalizations to apps such as Phone, FaceTime, Messages, NameDrop, Journal and more.
• Vision Pro, the inaugural AR headset, offering a fully immersive three-dimensional interface. It's equipped with the powerful M2 and new R1 chips, and runs on the new visionOS operating system, designed specifically for spatial computing. Vision Pro will feature a brand-new App store. Price is $3,499. 

WWDC Announce Mixed Reality Headset

The highly anticipated MR headset at WWDC is seen as an opportunity for iOS applications to offer users a more immersive, engaging experience and lays the foundation for a new era of spatial computing. 

"Vision Pro is a new kind of computer that augments reality," and it "will change the way we collaborate, work, enjoy entertaintment", Apple's CEO Tim Cook said.

The introduction of Apple Vision Pro is poised to revolutionize even the way fans experience their favorite Disney characters, according to Robert Iger, CEO of The Walt Disney Company DIS, who appeared at the Apple event.
"Disney+ will be available from day 1 on Apple Vision Pro," he added.

Wamsi Mohan, an analyst at Bank of America, boosted Apple Inc.'s price target from $176 to $190 prior to the event, citing the likely debut of a new mixed-reality product.

Mohan underlined that if Apple is successful in building a vibrant ecosystem around the headset, growth rates for services could see a huge boost.

Photo courtesy of Apple.