“Apple’s move into augmented reality could boost iPhone and App Store sales, resulting in as much as $8 billion in revenue for the tech giant, according to Bank of America Merrill Lynch,” Kate Rooney reports for CNBC. “‘We think AR apps will command a price premium,’ Wamsi Mohan, senior equity research analyst at Bank of America Merrill Lynch wrote in a note to clients Tuesday. ‘We reiterate our Buy on strong capital returns, continued strong growth in Services revenues and AR providing yet another competitive advantage.'”

“The bank increased its price target from $225 to $230, about $40 above where the stock was trading Tuesday,” Rooney reports. “Shares of Apple are up more than 30 percent year over year and 12 percent so far this year.”

“Mohan says the “revenue opportunity” is for $6 billion to $8 billion in additional revenue from now until 2020 with $1 billion of that coming from AR apps and the rest coming from increased iPhone sales due to the new technology,” Rooney reports. “More than 1 billion Apple devices are already equipped for augmented reality apps, which Mohan said makes iOS a logical and “extremely attractive” option for those developers.”

Read more in the full article here.

MacDailyNews Take: Apple’s ARKit 2 will unleash the AR revolution!

Augmented Reality is going to change everything.MacDailyNews, July 21, 2017

The impact of augmented reality cannot be overstated. It will be a paradigm shift larger than the iPhone and the half-assed clones it begat. — MacDailyNews, August 4, 2017

Someday, hopefully sooner than later, we’ll look back at holding up slabs of metal and glass to access AR as unbelievably quaint. — MacDailyNews, July 28, 2017

Stylish eyewear that actually delivers useful data to wearers is potentially a huge market and Apple is exactly the company to deliver just such a wearable.MacDailyNews, January 25, 2017

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