Apple Stocks Hit Record High Thanks To Hype Around Mixed Reality Headset Launch

From mixed reality headsets to iOS updates Apple's Worldwide Developers Conference promises exciting new products, which places the event at par with the annual iPhone launch. Tim Cook also declared the WWDC the best event ever for the company hours before he was scheduled to kick off the conference.

Thanks to the hype that the event has generated, Apple's stocks have scaled an all-time high of $183.86 per unit, to break its previous record set in January 2022.

Surge after a subdued year

With this the firm has managed to erase its loss of value last year, with a 47 per cent surge in 2023 so far, and its market cap now stands at $2.9 trillion.

The 43-year-old company known for disrupting the world of tech time and again, is also the world's most valuable firm and has surpassed its closest rival Microsoft by $400 billion.

Apple devices will get the iOS 17 update at the two-hour event, while the AR/VR headset is touted as the brand's next big thing that may outshine the iPhone.

The headset is also set to go head-to-head with Meta's Quest as tech companies are competing for the lion's share in the augmented reality market.

Before this, Apple managed to create similar hype in India when it unveiled two stores in the country, which made as much as Rs 25 crore each in their first month.

Published on: Monday, June 05, 2023, 08:59 PM IST