- Apple (NASDAQ:AAPL) reportedly showed its board its new mixed-reality headset last week
- Current estimates have the company releasing the headset as early as this year
- Apple stock closed down 2.5% today despite the news
Apple (NASDAQ:AAPL) stock closed down more than 2% today despite a promising update regarding its mixed-reality headset.
Bloomberg reported today that, last week, Apple previewed its in-development mixed-reality headset to the company’s board of directors. Apple’s board has historically been the first body to experience upcoming products. As such, this is a hopeful sign that Apple’s latest innovation is closer to market than expected. The tech giant has hinted at the concept repeatedly over the past few years, even as companies like Meta (NASDAQ:FB) release their takes on the virtual reality (VR) phenomenon.
Adding to the rumors, Apple has apparently been in the process of beefing up its reality operating system (rOS). This is headset’s underlying software.
Current predictions have Apple revealing the VR device as early as the fourth quarter of 2022 or sometime in 2023. This would mark Apple’s latest foray into a new field since it released the Apple Watch in 2015. Though with rumors also circulating over a potential Apple electric vehicle, it’s unlikely to be the last major innovation.
AAPL Stock Slides Despite Strong Sales, VR Rumors
Apple is seemingly the latest casualty of an unkind stock market. Indeed AAPL shares down more than 20% this year despite record sales in recent quarters. Its latest reported endeavors could be the catalysts investors have been waiting for.
The in-progress headset will apparently offer both VR and augmented reality. The company is apparently also developing standalone AR glasses, codenamed N421, estimated for release sometime this decade. AR adds digital overlays to the real world, unlike VR which is entirely digital and thus disconnected from reality.
With the popularity of devices like Meta’s Quest 2 growing, Apple’s enthusiasm for its VR product line seems well merited. This is definitely a catalyst to watch.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.