Apple Inc (NASDAQ:AAPL, ETR:APC)’s Vision Pro headset could add between US$0.68 and US$0.89 to the company’s share price over the next five years, Bank of America analysts noted after the rollout of the technology giant's new device.
Such a scenario would see the technology giant’s share price increase by 0.5% on the introduction of the virtual reality headset alone, with Bank of America analysts noting “Vision Pro could be a significant new category for Apple” on Monday.
Despite concerns, such as the weight and battery life of the US$3,500 headset, which was released last Friday, Bank of America took a positive view on the wide range of applications the Vision Pro could be used for.
“The spatial computing paradigm is extremely unique, and we expect developers to unleash numerous apps over time to drive increased use cases,” analysts said.
Immersive apps, such as those that offer front-row views for sports or concert live streams, will likely be most popular with the headset, the bank explained.
“Key” programs from the likes of Netflix, YouTube, and Spotify are yet to be developed for the headset meanwhile, analysts added.
Vision Pro could also prove useful for e-commerce, according to the bank, such as by allowing consumers to visualise clothes or furniture before buying.
Bank of America reiterated a ‘Buy’ rating for Apple as a result, alongside a share price target of US$225 - up 21% on Friday’s close.