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Apple Inc.‘s (NASDAQ:AAPL) latest foray into spatial computing, the Vision Pro, is showing early signs of success in the enterprise market, CEO Tim Cook underscored during the company’s earnings call.
What Happened: “We’ve seen great interest for Vision Pro in the enterprise, where it can empower companies large and small to pursue their best ideas like never before,” Cook stated, highlighting the device’s potential beyond consumer applications.
Cook mentioned that organizations like Boston Children’s Hospital and passenger airline Lufthansa use Vision Pro to create innovative spatial computing experiences for workforce training. This early adoption indicates the device’s potential to revolutionize professional development across various industries.
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He also highlighted the growing app ecosystem around Vision Pro, with over 2,500 native spatial apps and 1.5 million compatible apps for Vision OS. This robust ecosystem could be a key driver for enterprise adoption, allowing businesses to customize the device to their needs, he said.
Apple’s Vision Pro is gaining traction in the enterprise market at a time when the company is also advancing its artificial intelligence initiatives.
See Also: Bill Gates’ Ex-Wife Reveals She Shares Jeff Bezos’ Ex-Wife MacKenzie Scott’s Parenting Style
Why It Matters: The success of Apple’s Vision Pro in the enterprise market is a significant development for the company. This comes on the heels of Apple CFO Luca Maestri announcing that the company returned over $32 billion to shareholders in the third quarter, including $3.9 billion in dividends and $26 billion through stock repurchases.
Despite a 6.5% yearly decline in sales in Greater China, CEO Tim Cook remains optimistic about long-term prospects in the region. He highlighted that the sales decrease was less than 3% on a constant currency basis and pointed to positive indicators like a record iPhone install base.
Analysts have also been positive about Apple’s third-quarter performance, with Wedbush analyst Daniel Ives calling it a “gold-medal performance.” He noted that revenue exceeded expectations and iPhone sales were strong.
Apple’s third-quarter earnings report beat expectations, with revenue growing year-over-year. However, the stock initially saw a slight dip due to concerns over China and Services performance.
Price Action: Apple’s stock closed at $218.36 on Thursday, down 1.68% for the day. In after-hours trading, the stock increased by 0.57%. Year to date, Apple’s stock has risen by 17.63%, according to data from Benzinga Pro.
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Photo courtesy: Apple
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: AAPL
