Tech giant Apple (NASDAQ:AAPL) finally jumped on the AI bandwagon this week with the announcement of its “Apple Intelligence.” The AI buzz has pushed Apple stock nearly 6% higher over the last five days, taking the iPhone maker’s market capitalization to around $2.96 trillion. Now, investors in the company have even more to cheer about as Apple gears up to launch its Vision Pro headsets outside the U.S. market for the first time.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Vision Pro’s Quick International Availability
Apple will start selling the Vision Pro in multiple international markets this month. The headset will be available for pre-order in mainland China, Hong Kong, Japan, and Singapore from this Friday.
Customers in Australia, Canada, France, Germany, and the U.K., however, will have to wait until June 28. The Vision Pro is powered by Apple’s visionOS, and the company plans to provide an update for customers to the visionOS 2 later this year.
Could Mean Weak Demand in the U.S.
Apple introduced the VR headset earlier this year to much fanfare. While the product has generated quite a buzz on social media, its quick introduction to international markets could possibly indicate not-so-promising demand in the U.S. According to CNBC, Apple lowered the production of Vision Pro in April due to weak demand.
Is Apple a Buy, Sell, or Hold?
Apple’s share price has rallied by nearly 20% over the past three months. Overall, the Street has a Moderate Buy consensus rating on the stock, alongside an average AAPL price target of $208.47. This implies the stock may be hovering at fair valuation levels at present.
Read full Disclosure
