Tesla Investor Ross Gerber Says 'Vision Pro Is Awesome' After Apple's Recent Stock Rout: 'It's Gen 1. I'm Telling You'

Renowned Tesla Inc. investor Ross Gerber recently expressed his optimism about Apple Inc‘s AAPL Vision Pro despite the company’s recent stock decline.

What Happened: On Wednesday, Gerber, who is the CEO of Gerber Kawasaki Wealth and Investment Management, took to social media platform X formerly known as Twitter to share his thoughts. “Vision Pro is awesome and it's gen 1. I'm telling you. Just wait… #apple $aapl,” he wrote.

Gerber, a long-time Apple investor, has previously predicted that Vision Pro will replace the iPhone within the next five years. He also believes that Apple’s focus on Vision Pro and Gen AI, after abandoning its EV project, will lead to significant stock growth, reported BNN Bloomberg.

See Also: Gene Munster Predicts Apple AI $33B A Year Opportunity, Draws Comparisons To This Stock From 2022

Why It Matters: Gerber’s recent endorsement of Vision Pro comes at a time when Apple is facing challenges. The company’s shares are expected to drop by a further 5% due to a downturn in China and a recent European Commission fine, as predicted by CNBC’s Jim Cramer.

Apple’s Vision Pro, a virtual reality and video headset, has received mixed reviews and has a starting price of $3,499. Analysts have suggested that Apple needs to improve the price/performance of Vision Pro for it to be a credible disruptive upside opportunity.

Despite these challenges, analysts have warned that selling Apple stock before the company’s AI developments could be a significant mistake. Wedbush’s Dan Ives suggested that divesting Apple stock at this juncture would be a historically wrong move.

Price Action: Apple shares closed 0.59% lower on Wednesday, according to data from Benzinga Pro. The stock has declined 10.71% in the past month.

Read Next: ‘I Sense Serious Apple Panic’: Jim Cramer Says ‘Nothing Good Is Going To Come Of China’ For Cupertino After iPhone’s 24% Plunge

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