CUPERTINO - Apple Inc (NASDAQ:AAPL). announced that its Apple Vision Pro, a device blending digital content with the physical world, will be available for pre-order in several new countries. Customers in China mainland, Hong Kong, Japan, and Singapore can pre-order starting this Thursday, with availability from Friday, June 28. The offering extends to Australia, Canada, France, Germany, and the U.K. with pre-orders opening on Friday, June 28, and availability from Friday, July 12.
The Apple Vision Pro is powered by visionOS and is designed to transform user experiences in work, entertainment, and more. It enables interaction through eye movement, hand gestures, and voice commands, with Siri integration for added convenience. The device also features an infinite canvas for apps, providing an extensive workspace.
Apple's CEO, Tim Cook, expressed excitement about bringing the technology to more consumers worldwide. He highlighted the product's potential in various applications, from professional collaborations to reliving memories in 3D.
The Vision Pro will come with a robust catalog of over 2,000 apps specifically designed for its capabilities and will support a vast array of productivity and entertainment applications. Notable business apps include Slack, Zoom (NASDAQ:ZM), and offerings from Microsoft (NASDAQ:MSFT) 365, while streaming services such as Apple TV+ and Amazon (NASDAQ:AMZN) Prime Video will provide an unmatched personal cinema experience.
Apple emphasizes the versatility of the Vision Pro in gaming, with access to thousands of games including Apple Arcade titles. Additionally, the device will serve as a platform for groundbreaking storytelling experiences, leveraging 3D 8K video and Spatial Audio.
The company also highlighted the use of Vision Pro in industries such as healthcare for clinical education and surgical planning. Over half of Fortune 100 companies have invested in the device for developing solutions within their organizations.
In terms of hardware, Vision Pro boasts an ultra-high-resolution display system, advanced Spatial Audio, and is powered by Apple silicon for high performance. It incorporates accessibility features and prioritizes user privacy and security, including Optic ID for secure authentication.
As part of Apple's commitment to the environment, Vision Pro is designed with recycled materials and aims to be carbon neutral across its product lifecycle by 2030.
The Vision Pro will be priced starting at $3,499 in the U.S. and will be available in various storage capacities. It will come with visionOS 1.2, and a free update to visionOS 2 is expected this fall. Customers can also purchase prescription lens inserts developed in partnership with ZEISS.
This announcement is based on a press release statement from Apple Inc.
In other recent news, Apple Inc. has remained a focal point for investors, as UBS maintains a neutral rating for the company's stock amid consumer concerns over GenAI technology. The firm's decision follows insights into consumer interest in GenAI, with high costs and privacy concerns appearing to temper enthusiasm in markets outside of China. The firm's price target and rating remain unchanged, indicating a watchful approach to Apple's performance in the context of these market insights.
In a move to maintain its competitive edge, Apple is set to highlight advancements in artificial intelligence (AI) integration at its annual Worldwide Developers Conference (WWDC 2024). Notable updates to Siri, its voice assistant, and a potential partnership with OpenAI, ChatGPT's parent company, are expected. Analysts from DA Davidson and Citi have maintained neutral and buy ratings respectively on Apple's shares, citing the company's potential in the AI landscape and its commitment to user privacy.
Furthermore, Apple has introduced a new AI-focused chip in its latest iPad Pro models, and plans to use its own chips in data centers for the first time, a move that could enable more advanced AI features without reliance on costly processors from Nvidia (NASDAQ:NVDA). The company also reportedly plans to revamp Siri's software with generative AI technology, a move that could potentially drive sales of new iPhone models.
On the other hand, Nvidia, a leading AI chipmaker, is nearing a market valuation of $3 trillion, potentially surpassing Apple. This comes ahead of Nvidia's scheduled ten-for-one stock split, driven by high demand for its advanced processors. Despite the competitive landscape, Apple continues to lead as the most valuable U.S. brand in 2024, with a brand value of $516.58 billion. These recent developments provide a snapshot into the shifting dynamics within the technology sector.
InvestingPro Insights
As Apple Inc. gears up for the global launch of its innovative Apple Vision Pro, the company's financial metrics reflect a robust market presence. With a colossal market capitalization of $3 trillion, Apple stands as a titan in the tech industry. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is relatively high at 30.37, indicating strong investor confidence in Apple's profitability and future growth prospects.
Investors and analysts keeping a close eye on Apple's performance will note that the company's revenue has seen a slight contraction of 0.9% over the last twelve months as of Q2 2024. Despite this, Apple boasts a healthy gross profit margin of 45.59%, showcasing its ability to maintain profitability. Additionally, the company's return on assets is an impressive 29.99%, reflecting efficient management and a strong competitive edge in the Technology Hardware, Storage & Peripherals industry.
For those considering investing in Apple, it's worth noting the following InvestingPro Tips: Apple has a track record of raising its dividend for 13 consecutive years, underscoring its commitment to shareholder returns. Moreover, the company operates with a moderate level of debt, which is an important consideration for risk-averse investors. For more insights and analysis, investors can find additional tips on the company's performance and outlook on InvestingPro: https://www.investing.com/pro/AAPL. There are 18 additional InvestingPro Tips available, which can be accessed with an exclusive offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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