Apple Could Release A Mobile VR Headset, Oppenheimer Predicts

Oppenheimer’s Andrew Uerkwitz maintained an Outperform rating for Apple Inc. AAPL, with a price target of $120, saying that investors may find the company’s next several media events “underwhelming.”

Apple is slated to host an event on March 21, and is widely expected to launch new products. “While we expect to see several “under the hood” improvements across devices, we are not expecting the same exuberance as last year when Apple shared final details of the Apple Watch,” analyst Andrew Uerkwitz wrote.

Apple’s next several media events are unlikely to get investors highly excited. Uerkwitz mentioned what the company may introduce over next couple of years.

Looking Beyond The Most Recent Media Event

Apple may capture leadership in smartphone cameras – A series of “major overhauls are in line for the upcoming iPhones” and 360 video and depth sensing are the most likely new features, the analyst commented.

Apple may push a wider deployment of Siri – In an attempt to counterattack OK Google and Amazon Echo, Apple may encourage third-party developers to link with Siri in more meaningful ways in 2016.

Apple may launch a mobile VR headset – “We believe Apple has been building up to release a mobile VR headset based on potential changes in display technology (OLED), GPU improvement (consistent doubling of performance in recent iterations), and the introduction of more sophisticated sensor fusion, all of which will allow Apple to introduce a VR headset that utilizes current iPhones or iPads,” Uerkwitz said.