Apple Hits New Record Highs on Expectations of AR/VR Boost

Apple (AAPL:US) shares moved further higher on Monday to hit fresh record highs around the $183 mark as investors brace for the Worldwide Developers Conference (WWDC) event that is due to start today.

The tech titan is widely expected to present a mixed reality (MR) headset at the event that will be held on Apple campus in Cupertino. This is likely the biggest product launch in years for Apple as the company could generate billions from sales of augmented reality (AR)/virtual reality (VR) products and services in the coming years. 

“I think AR is extremely interesting and sort of a core technology. So, yes, it’s something we’re doing a lot of things on behind that curtain that we talked about,” CEO Tim Cook said back in 2016.

Moreover, Apple could announce new MacBooks, including the new 15-inch MacBook Air powered by the company’s M2 processor.

Wedbush analysts said the upcoming MR launch event is another “flex the muscles moment” for the Cupertino-based behemoth. They project Apple could ship about 150,000 units in the first year after the launch.

"We believe Apple's Reality Pro will come with many apps and use cases that will distinguish this new product within the Cupertino hardware arsenal," the analysts said.

Congress members Kathy Manning, Daniel Goldman, Josh Gottheimer, and Ro Khanna, are all benefiting from the ongoing rally in Apple shares given that they were buying the stock in recent weeks and months.

Most notably, Nancy Pelosi and her husband disclosed in April they exercised 100 call options to buy 10,000 Apple shares at the strike price of $80.