Apple Inc. (NASDAQ:AAPL) has the potential to outshine Meta Platforms, Inc.’s (NASDAQ:META) Ray-Ban smart glasses, says analyst Ming-Chi Kuo.
What Happened: Over the weekend, Kuo highlighted Apple’s lag in the smart glasses market, especially compared to Meta’s Ray-Ban models.
“Apple could build the best Meta Ray-Ban–like smart glasses on the market,” Kuo said, “Yet its decision-making in this area has been surprisingly slow.”
See Also: Pierre Ferragu Takes Apple To Task For Dismissing The AI Revolution: ';Has Its Head In The Sand'
Despite this, Kuo expressed confidence that Apple's renewed push for hardware innovation could lead to significant market shifts.
“Better late than never,” he said, adding, “Apple’s renewed push for hardware innovation is undoubtedly good news for the supply chain.”
Kuo's observation came after he shared a research update and key findings, noting that Apple is working on at least seven head-mounted and smart glasses projects, with some slated for release from 2027 onward.
This includes Vision Pro M5 Version, Vision Air, All-New Design Vision Pro 2nd Generation, XR Glasses and display accessory.
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Why It's Important: Earlier this month, Venture capitalist Chamath Palihapitiya harshly criticized Apple's future innovation potential on the All-In podcast, arguing the company has no chance of delivering major breakthroughs.
There's a growing skepticism about Apple's capacity to stay ahead in emerging technologies like AI and spatial computing, particularly when compared to agile startups and major rivals such as Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta.
Previously, it was reported that Apple executives have discussed the possibility of acquiring Perplexity AI, but the startup said it is not aware of any current or planned acquisition talks.
Price Action: Data from Benzinga Pro shows that Apple's stock has fallen by 17.54% year-to-date and has declined 7.23% over the past year.
Benzinga's Edge Stock Rankings suggest that Apple's shares remain on a downward trajectory across short, medium and long-term timeframes. More detailed performance data is available here.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Photo Courtesy: Muhammad Raid Ahyan 2105 on Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
