{"id":18546,"date":"2023-06-05T18:29:02","date_gmt":"2023-06-05T22:29:02","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/apple-stock-hits-all-time-high-then-falls-after-revealing-3499-price-tag-for-ai-headset\/"},"modified":"2023-06-05T18:29:03","modified_gmt":"2023-06-05T22:29:03","slug":"apple-stock-hits-all-time-high-then-falls-after-revealing-3499-price-tag-for-ai-headset","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18546","title":{"rendered":"Apple Stock Hits All-Time High\u2014Then Falls After Revealing $3,499 Price Tag For AI Headset"},"content":{"rendered":"
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Topline<\/h2>\n

Apple shares hit their highest price in the stock\u2019s 43-year history early Monday ahead of the debut of its mixed reality Vision Pro headset, though the stock then slid after the tech giant announced a far heftier than expected price tag for its biggest product launch in years.<\/p>\n

Key Facts<\/h2>\n
\n
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The stock gained as much as 2.2% in morning and early afternoon trading, hitting as high as $184.95, shattering its prior all-time high of $182.94 achieved last January.<\/p>\n<\/p><\/div>\n

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But the fanfare proved to be short-lived, as Apple shares slipped about 3% in later afternoon trading, closing below $180, a 0.8% loss for the day.<\/p>\n<\/p><\/div>\n

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The tumble came immediately after Apple CEO Tim Cook announced the company\u2019s hotly anticipated headset will retail at $3,499, nearly 20% higher than the $3,000 price tag most experts predicted for the device ahead of the launch at Apple\u2019s Worldwide Developers Conference.<\/p>\n<\/p><\/div>\n

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Despite the Monday decline, shares of the Silicon Valley behemoth are still up some 44% in 2023, erasing its 27% slide last year and captaining tech\u2019s broader rebound year-to-date.<\/p>\n<\/p><\/div>\n

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Apple\u2019s market capitalization now sits at about $2.8 trillion, about $325 billion richer than the next most-valuable public company on the planet, Microsoft.<\/p>\n

<\/fbs-ad>\n <\/div>\n<\/div>\n

Tangent<\/span><\/h2>\n

In a Monday note to clients, Wedbush forecasted Apple will sell about 150,000 headsets for its first year on the market, which would be $525 million in sales. This would be roughly 0.1% of Apple\u2019s nearly $400 billion in revenue last year.<\/p>\n

Key Background<\/span><\/h2>\n

Apple has tacked on roughly $765 billion in market cap this year, which is more than the total respective total valuations of Berkshire Hathaway, Meta and Tesla. Broad investor sentiments for mega-cap tech stocks have shifted dramatically from bearish to bullish over the last year, thanks in no small part to Apple\u2019s top- and bottom-line beats during 2023\u2019s first quarter. Fueling Apple\u2019s strong financials was a record $20.9 billion in quarterly revenue from its services segment, which includes App Store sales and other non-product revenue streams. In a Sunday note to clients, Bank of America analysts Wamsi Mohan and Ruplu Bhattacharya, raised their price target for Apple by 8% to $190, citing significant upside in the company\u2019s services segment thanks to the new headset.<\/p>\n

Big Number<\/h2>\n

Nearly $2 million. That\u2019s how much a $1,000 investment at Apple\u2019s 1980 initial public offering\u2014when shares traded at a split-adjusted level of $0.10\u2014would be worth now.<\/p>\n

Crucial Quote<\/h2>\n

In a note previewing Monday\u2019s conference, Rosenblatt analyst Barton Crockett declared the \u201cbar is set low\u201d to excite investors considering \u201cnobody expects this to be a financially meaningful product near-term.\u201d Apple\u2019s roughly $80 billion market cap slip-up Monday afternoon suggests the company failed to beat the already dampened expectations.<\/p>\n

<\/h2>\n

Apple Unveils Vision Pro AR\/VR Headset, Its First Major New Product In Nearly A Decade (Forbes<\/em>)<\/p>\n

Apple Announces Plans For Its Largest MacBook Air Yet At Developer Conference (Forbes<\/em>)<\/p>\n

These 7 Tech Stocks Command Almost 90% Of The S&P 500\u2019s Gains\u2014Signaling Market Rally May Not Be So Healthy (Forbes<\/em>)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Topline Apple shares hit their highest price in the stock\u2019s 43-year history early Monday ahead of the debut of its mixed reality Vision Pro headset, though the stock then slid after the tech giant announced a far heftier than expected price tag for its biggest product launch in years. Key Facts The stock gained as […]<\/p>\n","protected":false},"author":1,"featured_media":18374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-18546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nApple Stock Hits All-Time High\u2014Then Falls After Revealing $3,499 Price Tag For AI Headset | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Apple shares hit their highest price in the stock\u2019s 43-year history early Monday ahead of the debut of its mixed reality Vision Pro headset,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18546\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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