Zhitong Financial APP learned that recently, Tianfeng International analyst Guo Mingchi said that Vision Pro shipments are estimated to be about 500,000 units in 2024. The Vision Pro is currently in mass production and is expected to start mass shipments in the first week of January 2024. Based on the current high-volume shipping schedule, Apple will most likely ship the Vision Pro in late January or early February. It is reported that Apple is making every effort to increase the production of Vision Pro and make full preparations for the launch early next year.
In June this year, Apple officially released the Vision Pro headset, which officially announced that it will be the first to land in the US market in early 2024, followed by other countries and regions. It is understood that the price of Vision Pro is as high as 3,499 US dollars, about 25,000 yuan.
At this year's WWDC, Apple CEO Tim Cook said, "The Mac brings us into the era of personal computing, and the iPhone brings us into the era of mobile computing; The Apple Vision Pro will take us into the era of spatial computing. It can be seen that Apple regards the Vision Pro as a blockbuster product across the era.
At a time when iPhone innovation is sluggish, Vision Pro has also become Apple's most anticipated consumer electronics product in recent years. In terms of specific configuration, Vision Pro adopts Micro OLED technology, which can provide 23 million pixels on the left and right displays, and the single-eye effect can even exceed 4K display, and it also has a wide color gamut and HDR high dynamic range.
Apple also added the M2+R1 dual-chip design to the Vision Pro, which greatly shortens the picture and operation delay, so that the minimum delay can be controlled within 12ms, and the user's perception of latency is greatly reduced. In addition to entertainment functions, Vision Pro is also expected to become a productivity tool to play its value, combining with underlying technologies such as AI and digital twins to open up new space.
Cinda Securities believes that the design of Apple's Vision Pro is based on the user, and there is no positioning as an "advanced game console" with volume cost reduction configuration, which is expected to open up a new cycle of consumer electronics. The most anticipated consumer electronics.
In fact, in addition to Apple, Meta, another tech giant, has also been deeply involved in the XR field for a long time. Meta also announced the latest Meta Quest 3 at the 2023 press conference, which was unveiled with a combination of MR+AI+smart glasses, which further verified that the current mainstream product solution is moving towards the MR direction of hybrid reality and virtuality.
According to IDC's forecast, the global shipments of AR/VR headsets are expected to increase by 46.4% year-on-year in 2024, ushering in new opportunities for development.
According to the latest research report of Everbright Securities, with the full promotion of Apple, future AR/VR/MR equipment shipments may usher in an explosive period. According to the latest data from IDC, AR/VR/MR headset shipments are expected to fall by 8.3% year-on-year in 2023, with a total of about 8.1 million units. Looking ahead to 2024, Apple's Vision Pro will be released, and together with Meta's MR headset Quest 3, it is expected to promote a significant increase of 46.4% in AR/VR/MR device shipments.
CITIC Securities research report said that Apple's first MR headset device Vision pro is about to go on sale, CITIC Securities believes that Vision pro shows the current top parameter level in the field of consumer electronics on the hardware side, and is expected to provide a hardware experience that comprehensively surpasses related products on the market, and on the software application side, the 3D experience represented by spatial computing is different from the current mainstream 2D screen, which is expected to start from gestures, eye movements, Language and other dimensions shape a new paradigm of user interaction, and further promote the transformation of software application and production technology. In terms of investment opportunities, CITIC Securities recommends paying attention to the relevant companies involved in the Vision Pro hardware industry chain, and at the same time, the direction of games, videos, content production and commercialization that is expected to benefit from the new paradigm of software application is also worth paying attention to.
Related Concept Stocks:
Gao Wei Electronics (01415): In late October, Tianfeng Securities issued a research report saying that it gave Gao Wei Electronics a "buy" rating for the first time, and it is expected that the operating income in 2023/24/25 will be 79.64/165.93/24.101 billion yuan, the net profit will be 5.99/11.78/1.752 billion yuan, and the target price will be 29.81 Hong Kong dollars. The bank expects that the company is expected to introduce the iPhone rear camera module business, and benefit from the follow-up growth of Apple's VisionPro, in addition, it is expected that the volume of lidar products will start, or open the company's second growth curve.
Sunny Optical Technology (02382): Sunny has mastered leading technologies such as miniaturized packaging and can be used for AR module packaging. For the near-eye display part of AR equipment, Sunny has set up a special BU to conduct research and development of AR optical waveguide nanoimprint technology. At the end of November, Nomura issued a research report saying that it maintained the "buy" rating of Sunny Optics and raised the target price from HK$78 to HK$88. The recovery of the market price of mobile phone lenses from low levels and the company's order for the Huawei P70 series will drive the rating upgrade.
AAC Technologies (02018): On March 21, the company announced the successful development and manufacturing of a new generation of single-layer color optical waveguide lenses, which are key devices on AR devices. On the same day, the company also launched its first AR-specific ultra-linear speaker. At the end of November, Guosheng Securities issued a research report saying that it reaffirmed AAC Technologies' "buy" rating, regardless of the impact of the acquisition of PSS, and expected revenue in 2023-25 to be 209/234/25.3 billion yuan, and net profit attributable to the parent company of 5.5/12.9/1.67 billion yuan respectively. If the impact of the acquisition of PSS is considered, it is expected that the company's net profit attributable to the parent company in 2024 will be 1.57 billion, and the target price will be raised to HK$27.4.
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