Apple’s Vision Pro Could Send the Stock Up 35%, According to This Wall Street Analyst
Apple (NASDAQ: AAPL) has experienced a slight decline in share prices this year, with a decrease of about 5%. However, Wedbush analyst Dan Ives sees this as an opportunity for investors to buy. Ives has maintained his buy rating on Apple stock and has reiterated a near-term price target of $250. This target represents a potential upside of 35% from the current share price of $183. The reason behind Ives’ optimism is the sales expectations for Apple’s new product, the Vision Pro headset.
Described by Apple as “a revolutionary spatial computer that seamlessly blends digital content with the physical world,” the Vision Pro headset has generated high anticipation among analysts. Ives predicts that the headset will reach 600,000 unit sales in 2024 and 1 million unit sales in 2025. Bank of America analyst Wamsi Mohan shares a similar forecast for 2025 and has raised his projection to 4 million units for 2026.
The Vision Pro headset is Apple’s first major computing product since the Apple Watch, and analysts believe it could be a significant growth catalyst for the company’s long-term earnings. However, some investors may question whether Apple stock is a wise investment given its current valuation and the potential slow adoption of the Vision Pro headset, which comes with a hefty retail price tag of $3,499.
Despite these concerns, Apple has a track record of delivering innovative products that eventually become indispensable to consumers. The company has consistently made calculated bets on what it believes customers will love, resulting in nearly $100 billion in annual free cash flow. With such a successful history, it would be unwise to bet against Apple over the long term.
Investors considering buying Apple stock should also take into account other investment opportunities. The Motley Fool Stock Advisor analyst team has identified what they believe are the 10 best stocks for investors to buy now, and Apple did not make the cut. These 10 stocks are expected to generate significant returns in the coming years. The Stock Advisor service provides investors with a blueprint for success, including guidance on portfolio building, regular updates from analysts, and two new stock picks each month. Since 2002, the Stock Advisor service has outperformed the S&P 500 by more than triple the return.
In conclusion, while Apple’s Vision Pro headset holds promise for the company’s future growth, investors should carefully consider their options before investing in Apple stock. The potential upside may be significant, but there are other investment opportunities to explore as well. Ultimately, it is crucial to conduct thorough research and make informed decisions based on individual investment goals and risk tolerance.
Disclaimer: This article was originally published by The Motley Fool. The author of this article, John Ballard, has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Bank of America. The Motley Fool has a disclosure policy.
