Apple Vision Pro: How Apple lost $85 billion in 40 minutes  

See how investors reacted throughout the WWDC 2023 presentation

Undoubtedly, the presentation of the Apple Vision Pro was futuristic and very impressive despite the steep price of the first “spatial computer”. Along with the people’s reactions on social media and the “festivity” set up with the memes for Apple ‘s mixed reality headset , the investors of the Cupertino company and those who are also its strictest critics were constantly reacting. 

Bloomberg Business tracked the wild run of Apple stock and how its market value was like a… rollercoaster . And that’s because in the 40 minutes that the WWDC 2023 presentation lasted, $85 billion in Apple’s market value disappeared. It all started at 20:00 Greek time when Apple’s share price was at $184.64 and the company was talking about the 15-inch MacBook Air, Mac Studio and the new Mac Pro, where investors started asking “where’s the headset?” .

At 21:21 and after a continuous slide, with the share price having fallen to $182.69 dollars, Tim Cook takes the stage to show “one more thing”. However, the enthusiasm of the investors lasted about 9 minutes raising the stock slightly to $183.09 dollars, but as soon as it shows the first example of the use of Apple Vision Pro, the message it sent to the investors was not liked. 

What he brought out is that Apple intends to sell this product to professionals first, which practically means that it is not a product that will be produced for mass consumption on store shelves. The reaction was immediate with the stock plunging to $181.71 but the bad news from an investor’s perspective was not over. 

Apple is tight-lipped on the Vision Pro’s $3499 price, release window, and when it will be available initially. As Bloomberg points out, simply put, it’s more expensive than investors expected, it’s not coming out this year, so it’s not ready for 2023, and it will initially only be available in the US. When the presentation ended the stock price was at $179.58. 

Of course, this mostly negative rally in the stock was for that trading day since the actual amount lost is almost nothing, ie 3% of Apple’s total value of $2.9 trillion. Bloomberg reports for its part that it gives a look at how the markets reacted to Apple’s every move, but also how they felt when they first saw this brand new product.