Is Apple's 'Reality Pro' the Next Major Compute Platform? Analysts Predict Growth - Apple (NASDAQ:AAPL)

Morgan Stanley analyst Erik Woodring maintains Apple Inc AAPL with an Overweight, raising the price target from $185 to $190.
Woodring highlights that after several years of buildup, Apple is set to unveil its first new hardware category since 2016 - the much-anticipated "Reality Pro" AR/VR headset - at WWDC 2023, alongside other updates such as a new M2-powered MacBook Air and software upgrades to iOS, iPadOS, MacOS, and WatchOS.
Longer-term, he anticipates the combination of technological improvements, new use cases, and lower price points can drive the AR/VR headset TAM to $100 billion by 2030 and over $500 billion by 2037, implying AR/VR could become the next major ($20 billion+) standalone compute platform for Apple.
It's still early days, but he thinks that this long-term growth potential and that Apple will likely be the market-leading vendor in mixed-reality headsets could make WWDC a more significant stock catalyst this year.
Jefferies analyst Andrew Uerkwitz maintains Apple with a Buy and raises the price target from $195 to $210.
Price Action: AAPL shares traded higher by 0.35% at $180.68 on the last check Friday.
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