Augmented reality might be the future of Apple Inc (NASDAQ:AAPL) after CEO Tim Cook announced that the technology will keep the company on top and might be seen in the coming iPhones.
Augmented Reality Team
A new revenue stream might be on Apple’s books already after the company recently built a team that will work on the AR hardware and its other potential applications to their devices.
Apple engineers currently form the AR team and have reportedly hired camera and optical lens engineers in the AR venture. Former Amazon lead engineer Cody White also has been hired by the company to work on the AR Team.
Investors are now awaiting breakthrough from the company regarding AR and have already projected success for the company and have taken note of Tim Cook’s focus on the AR development. Some have also announced that they are expecting the AT technology to be featured in the next iPhone due this year as the company was also rumored to be working on digital glasses that can be connected to an iPhone.
Other reports have also claimed that the company is working with augmented reality technology not as a new feature for their current products, but as a new major product in the coming years.
Some analysts forecast that a successful AR implementation into Apple’s technology will drive enough revenue for the company in the next five to ten years. However, should the company choose to add the tech features or not, tech experts have argued that AR is going to be the future of the smartphone business.
Apple Shares
On Monday, Apple shares surged by more than 1% to an all-time high of $141.46 on reports of a new product lineup from the company including a new range of the iPad Pro and a larger iPhone SE with bigger storage and new Apple Watch bands.
Shares of Apple recently became one of the top performers in the Dow Jones after it rose by more than 20% in one month. Apple shares have also surged after it delivered an upbeat earnings report that beat analysts estimates.
The stock also has risen by 21% year-to-date surpassing other tech stocks like Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOGL) and is projected to rise to $160 in the following months. The shares of the company also got upgraded by Warren Buffet and Berkshire Hathaway (NYSE:BRKa) last month after the group expanded their Apple investment by 57 million shares.
Analysts are now predicting that Apple’s stock could rise by another 10% in the next six months because of the current growth outlook of their services business and the ongoing talk regarding the next iPhone which is set to be released this September.