Pre-orders are officially live for Apple Inc (NASDAQ:AAPL, ETR:APC)’s Vision Pro headset, meaning the consumer technology megacap will get its first taste of demand for the $3,500 augmented reality device.
Much is riding Apple’s first major hardware release in nine years, which has come at a testing time for the Silicon Valley giant.
Sluggish iPhone sales in China – Apple’s third-largest market – have weighed on Apple’s share price, although recently released data from the International Data Corporation (IDC) showed that Apple leads the way in smartphone sales globally.
Regardless, global smartphone shipments declined 3.2% year over year to 1.17 billion units in 2023, impacting all major smartphone manufacturers.
Even before its official release, Vision Pro has attracted criticism for its extravagant price tag and two-hour battery life.
Early testers have also complained of discomfort caused by the headset’s weight.
Apple initially projected one million unit sales in 2024 but reports emerged last year from assembly partner Luxshare that it was preparing to assemble just 400,000 initial units.
The market will pay close attention to Apple’s share price today, given that Microsoft Corporation (NASDAQ:MSFT) flipped its long-standing adversary for the world’s most valuable company earlier this month.
Microsoft gained significant ground on Apple in 2023, with its share price climbing 57% in 2023 thanks in large part to its success in the artificial intelligence space, including its investments in ChatGPT developer OpenAI.
Apple gained 48% over the same period. Pre-market trades predict a 0.33% increase in Apple shares when markets open.
