Apple's Cheaper Vision Headset

Plus, TSMC's surging AI chip demand.

October 14, 2024

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Today is Monday, October 14, 2024.

The Early Bird Index today is 75.05.

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Apple's Cheaper Vision Headset

The release of the Vision Pro headset in 2024 was a flop for Apple (Nasdaq: AAPL), but it appears the technology giant might aim for a cheaper alternative next year.

Details: On Sunday, Bloomberg’s Mark Gurman reported that Apple is working on a new lower-end Vision headset to arrive as early as next year that would cost about $2,000.

  • The device would have an inferior processor and cheaper materials. It also would lack the EyeSight feature.

  • The report said Apple expects the lower price to boost sales of the device.

Background: The current Vision Pro costs $3,500. This hefty price tag, along with limited practical applications, may have contributed to lagging sales of the device.

Stock Price: Apple’s stock is up 22% this year, including a 2% gain in the last 30 days.

Early Bird’s Nest Egg Gains: Sales of the Apple Vision Pro in 2024 were significantly lower than initially expected.

  • The Vision Pro failed to sell 100,000 units in a single quarter since its launch in February 2024. Total sales for 2024 are projected to be under 500,000 units.

  • The Vision Pro's performance did not match the success of Apple's other product launches like the iPhone or Mac.

Final Thoughts: Let’s see how investors react today to this report about a cheaper Vision headset.

Notables

Notable Earnings Today: Karooooo (Nasdaq: KARO).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Oratray (StartEngine), Patriot Pet Supply (Honeycomb), Brooklyn Grocery Cooperative (Honeycomb), WANDER (Honeycomb), Misfit SnackBar (Honeycomb).

Notable Economic Events Today: NY Fed 1-Year Consumer Inflation Expectations (11:00 a.m. ET), Federal Budget Balance (2:00 p.m. ET).

TSMC's Surging AI Chip Demand

The Taiwan Semiconductor Manufacturing Company (NYSE: TSM) reports financial earnings on Thursday, and those results could signal soaring artificial intelligence demand.

Details: Reuters reported Sunday that TSMC is expected to report a 40% jump in third-quarter profit this week. That includes a net profit of $9.27 billion thanks to strong AI demand.

Stock Price: TSMC is up 87% this year, including a 10% gain in the last 30 days.

Final Thoughts: Semiconductor stocks have surged in the past 30 days.

Sunday was bad for cryptocurrency prices, especially for Chainlink, which fell by about 3%.

Final Thoughts: Chainlink is now down about 7% in the last 30 days.

Great American Deal: B. Riley to Sell Great American Appraisal Unit to Oaktree (Wall Street Journal)

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