Apple catalyst sought after drab headset reaction

The stock market’s cool response to the launch of Apple’s mixed-reality headset left investors pondering what will provide the next push for a rally that has propelled the shares into record territory.

Having hit an all-time peak in the hours leading up to Monday’s product event, shares in the iPhone maker slipped 0.8% by the close and eased further in premarket trading as analysts said the eye-popping price of $3,499 for the Vision Pro headset would limit its mass-market appeal. The stock extended losses on Tuesday, dipping 0.4%.

The Apple Vision Pro mixed reality (XR) headset is unveiled on June 5.

Morgan Stanley’s Erik Woodring is looking to October for the next potential catalyst, when he expects to learn more about initial headset volumes and precise timing of the launch. Much will depend on the development of a “killer app” that takes the new technology “from niche to mainstream,” he said in a note.

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