Feb 5, 2024 - Economy

The big picture

Data: Business Insider; Table: Axios Visuals
Data: Business Insider; Table: Axios Visuals

Be smart: Apple's preference is to always be the tortoise, rather than the hare, in the electronics industry.

  • The fact that engineers fit a dozen cameras, a LiDAR scanner and a half-dozen microphones into a form factor slightly bigger than an iPhone (even at about 1.5 pounds) is a testament to that strategy, which has reportedly been in the works for more than 10 years.

💭 Hope's thought bubble: Ultimately, from an industry standpoint, I don't think it matters how many of these first-gen devices Apple sells right now — because every other consumer electronics company will be chasing the Vision Pro for the kind of oxygen that Apple takes up when it releases a new device.

  • And when more competitors enter the race — to make devices smaller, lighter, cheaper — adoption will grow and through greater adoption, demand will be created.

The bottom line: This product category isn't going away.

  • How Apple and others continue to iterate will be driven by investor patience on cost as well as public adoption.
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This story was an excerpt from Axios Closer, a recap on the day's biggest business stories.

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