Gene, Andrew and Doug discuss Bloomberg reporting that Apple’s MR headset debut will be shifted from June to later in 2022.
Takeaways:
- It looks like we’re going to be wrong on our recent prediction that Apple will show its MR headset at WWDC given development delays.
- If they miss the WWDC 2022 window, it makes most sense for Apple to hold off on debuting the device until WWDC 2023 given the importance of developer buy-in.
- While the delay is a headwind to a near term catalyst for AAPL multiple expansion, it’s a function of time before investor excitement returns regrading the topic.
- Long-term this does not change anything for Apple. Whether they show the product in 2022, 2023 or 2024 does not matter. Apple will eventually release a product that will build confidence with investors that Apple has a winning approach to AR and the metaverse.