Gene Munster's Hot Take: Are Consumers Ready For Apple's Vision Pro Experience?

Deepwater Asset Management managing partner Gene Munster, who previously said that eventually 10% of Apple Inc.’s AAPL revenue will come from its first-generation mixed-reality headset, now says, “consumers don’t want a headset today because they have yet to provide utility.”

What Happened: On Tuesday, Munster took to X (formerly Twitter) and shared the results of their latest poll, stating that 16% of participants expressed intention to purchase the Vision Pro in the coming year. 

This enthusiasm, however, appears to be at odds with broader tech adoption trends, as Munster estimates that only 25% of people plan to buy a new phone in the same timeframe. 

“Likely inflated by the bias of the sample. Poll participants are likely early adopters of new tech,” Munster noted. 

See Also: Tim Cook’s ‘Aha Moment’ with Apple’s Vision Pro — ‘You Only Have A Few Of Those In A Lifetime’

While acknowledging the remarkable technological advancements within the Apple Vision Pro, Munster emphasizes a critical dependency on developers to create compelling applications. He argued that the device’s ultimate success hinges on its ability to provide meaningful utility. “The technology is phenomenal but without the compelling applications consumers won’t buy it.”

Earlier in June, Munster highlighted two key features that set Apple’s Vision Pro apart from other headsets in the market: the ability for users to keep an eye on the real world while wearing the headset and the use of gestures and eye movements as the primary control interface.

It is worth noting that while Apple Vision Pro has received huge appreciation for being a premium product, there’s also uncertainty over it bringing the “iPhone moment” back because of the heavy price tag. 

Why It’s Important: The Vision Pro headset was unveiled during Apple’s annual Worldwide Developers Conference 2023. It is likely to be available for sale in early 2024. 

Although Apple’s Vision Pro eliminates the need for additional accessories, as users can control the headset using their hands, eyes, and voice, the device comes with a hefty price tag of $3,499, leading many to question its worth as an investment.

In contrast, Apple’s rival in the AR/VR market, Meta Platforms, has launched its Quest 3 headset at a starting price of only $499. Meta CEO Mark Zuckerberg has also expressed optimism over Quest 3 becoming the first-ever mainstream VR headset. 

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Apple’s Rumored Cheaper Vision Pro To Cost $2000 Less — But It Might Come Without These Features