Two weeks from now, Apple's Vision Pro will officially hit the market. Although it will still be some time before this mixed-reality headset reaches consumers, it has already sparked widespread discussion in various areas since Apple's June conference, including its hefty $3,500 price and potential use cases.
According to Apple, this expensive headset has potential far beyond videos, gaming, and communication—it could also play a crucial role in surgeries, repair training, and teaching.
This week, in a video sent to employees, Apple executives Mike Rockwell and Alan Dye discussed the product's development and the potential for growth in the technology behind it. When asked about the amazing things the headset could do, Rockwell pointed to future applications in healthcare, training, and education as his answer.
Oftentimes, surgeons struggle to look at displays during procedures, where information is spread out. Apple Vision Pro could bring all of that together and hopefully improve patient outcomes Rockwell said in the video.
The executive also stated that Vision Pro's visual technology would provide technicians or aircraft mechanics with high-quality training in ways they've never been able to experience before. He also expressed his excitement about the headset's prospects for learning and education, which he called another superpower of Apple Vision Pro.
Perhaps as a result of this internal video, Bank of America chose to upgrade Apple's stock rating from neutral to buy this week, and raised the target price by $17 to $225 per share.
When discussing the reason for the adjustment, the bank's analysts noted, that Vision Pro could surpass iPad revs over time as spatial computing takes hold offering differentiated use cases driving services upside.
In Services, we see traction with a broader installed base with several categories including advertising, and health & fitness, added the Bank of America analysts in the report.
Bank of America predicts that sales of Apple's Vision Pro can reach 100,000 units this year, and if Apple chooses to lower the price at some point during the year, sales could potentially spike to millions.
Interestingly, an internal memo from the tech giant revealed that when Apple employees purchase Vision Pro, they are eligible for a 25% discount. Although this is less significant than the 50% off discount offered when the Apple Watch series and HomePod smart speakers were launched, the discounted price will be down to $2,600 before taxes.
Additionally, Apple employees can use the $500 subsidy provided by the company to purchase the Mac series on the headset. Furthermore, for employees needing prescription lenses, Apple will cover the cost of adding the lenses when purchasing the headset.
It's also worth noting that Apple's Vision Pro will start preorders on Friday, January 19.