(NASDAQ: AAPL) announced its long-rumored mixed-reality headset at the company's Worldwide Developers Conference on June 5, and Wall Street's reaction to the device hasn't quite been enthusiastic.

Shares of Apple haven't moved much since the formal announcement of the Vision Pro headset. That's not surprising given that Apple has priced the device at a rich $3,499, which makes it quite expensive when compared to what the competition offers. Also, the device will hit the market only in early 2024, so it is difficult to gauge what kind of impact it is going to have on Apple's sales.

Given that the Vision Pro is a first-generation device that's going to help Apple test the waters in the nascent mixed reality market, it is not surprising to see investors' lukewarm reception to the device. Moreover, Apple still has work to do to ensure that users pay such a massive premium for its headset -- such as developing a compelling app ecosystem.

Continue reading

Source Fool.com