Why Apple Stock Rose Today
Shares of Apple (NASDAQ: AAPL) climbed on Monday, as investors' anticipation for the tech titan's entrance into the mixed-reality market heightened. By the close of the trading day, Apple's stock price was up 1.3% after rising as much as 3.1% earlier in the day.
Apple is preparing to launch its long-awaited augmented reality (AR) headset as early as June, according to the Financial Times. The device's debut would mark a major move by the tech giant into an AR market that's projected to approach $600 billion by the end of the decade, according to Grand View Research.
Apple has reportedly been developing its mixed-reality headset for seven years. The initial version of the device is expected to feature advanced technology, including high-end cameras and ultra-high-resolution screens, that could drive its price as high as $3,000. Early sales are thus likely to be limited, although Apple is still reportedly planning to sell as many as 1 million headsets in the year following its launch.
Source Fool.com
