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What was Apple CEO Tim Cook thinking?

Releasing the Vision Pro headset earlier this year for the price tag of $3,899 (for a 1TB version) in a period where Goldman, including ourselves, has shown the American middle class has quickly deteriorated under Bidenomics – was likely a terrible idea. 

Perhaps Cook has since gotten the memo amid slumping demand, as a new report from The Information suggests Apple suspended work on the second-generation Vision Pro and diverted efforts to focus on a cheaper version.

One Vision Pro supplier allegedly slashed production by 50% in May after receiving a dismal demand outlook from Apple. The report also said that Apple has likely produced less than half a million units, with no further plans to ramp up production through August.

If the report is accurate, it underscores how Apple mispriced the Vision Pro – and even with BNPL loans – consumers still didn't bite.

This is not entirely surprising, as Ming-Chi Kuo, an analyst at TF International Securities, recently noted a downward revision in Apple's sales expectations, from a 'market consensus' of 700k to 800k units to a more modest 400k to 450k units in 2024.

Google searches of "Vision Pro" show the headsets appear to be just a fad. 

Here's what X users are saying about the report…

So, how much will a 'more affordable' Vision Pro cost?