Apple's (AAPL) first new product launch in nearly a decade wowed onlookers at WWDC 2023 and had people on social media complaining about the sticker price.
Just like the good ol' days.
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But while some industry watchers were already writing the obituary for Meta Platforms (META) and its Oculus VR ambitions, Brett Winton, chief futurist at Cathie Wood's Ark Invest had a different take on the new technology.
The Apple Vision Pro's specs do no warrant a sticker price that is 2.3 times higher than that of its biggest competitor.
"In Apple's case, all of the external sensors as well as the external screen add cost and engineering complexity without improving visual immersion," Winton continued.
"Nonetheless, on degree of immersion per dollar the Vision Pro is a step back rather than a step forward."
The Vision Pro is not slated to be released until 2024, but the live reaction of potential buyers experiencing sticker shock upon hearing the $3,499 price of the base version of the headset has gone viral.
And according to Winton, it won't become affordable for many years to come.
Meanwhile, Meta's Oculus Quest 3 is slated to debut in the fall with a starting price of just $499. The Meta Quest Pro, the most advanced VR set the company has to offer, retails for $999.
It may take some time for mass adoption of Apple's VR offering due to the high price point, but analyst firm Deepwater Asset Management analysts expects the product to eventually account for 10% of Apple's overall revenue.
