Jim Cramer on Mad Money, June 14, 2022.
- CNBC's Jim Cramer on Wednesday told investors he's confident in the success of Apple's Vision Pro and sees uses for the product outside the consumer space.
- He suggested the virtual reality headset could be a boon for the industrial sector.
CNBC's Jim Cramer on Wednesday told investors he's confident in the success of Apple's Vision Pro and sees uses for the product outside the consumer space.
He said there are real signs of weakness — or "brown shoots" — in the economy, pointing to poor earnings from some transportation companies. But Cramer argued that recent reported weakness about the prosperity of the Vision Pro does not hold weight.
"Talk about a faux brown shoot, that's outrageous. What a straw man," Cramer said. "If Apple can sell 400,000 units of a $3,500 product that's just now having software written for it, then I think they're doing great."
One analyst on Tuesday reported that Apple is slashing its shipment forecast for the virtual reality headsets due to declining demand. The tech giant now only expects to sell 400,000 to 450,000 units in 2024 compared to 700,000 to 800,000, which the analyst saw as a "market consensus" estimate.
Cramer also suggested that Apple could pivot and market the Vision Pro as an enterprise product. At Nvidia's conference last month, he was impressed by how the company's technology worked with the Vision Pro. Cramer described the way he was able to look at the dashboard and under the hood of a sports car through the headset. And with digital twin technology, he suggested the Vision Pro could be a boon for the industrial sector.
Money Report
"The construction of factories is the largest business in the world," he said. "If you could cut waste and test out potential changes on the Vision Pro before you put them in reality — and that's what's known as a digital twin — then I say that $3,500 price tag is way too cheap."
Susan Prescott, Apple's vice president of worldwide developer relations, highlighted the Vision Pro's enterprise potential in a recent press release.
"We're thrilled to see the innovative ways organizations are already using Apple Vision Pro, from planning fire response operations to iterating on the most intricate details of an engine design — and this is just the beginning," Prescott said.
Nvidia declined to comment.
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