Technology

Apple hits record high ahead of VR headset unveiling

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Tim Cook, chief executive officer of Apple Inc., smiles during the opening of the new Apple BKC store in Mumbai, India, on Tuesday, April 18, 2023. 
Indranil Aditya | Bloomberg | Getty Images

Apple shares are on pace to close at a new record high Monday as the company prepares to launch a number of new updates and products, including its widely anticipated mixed-reality headset, at its annual Worldwide Developers Conference.

Shares of the company were up around 1% in premarket trading Monday and reached $182.53, above its previous record high from Jan. 3, 2022. Apple’s stock is up more than 39% year to date, while the NASDAQ is up around 26.5% for the same period.

Apple’s headset, according to reports, will feature high-definition screens in front of the user’s eyes. But it could also let users see and interact with the real world through high-powered cameras mounted on the device, a trick sometimes called passthrough or mixed reality.

The new headset from Apple would mark new investment into a technology that has been fraught with disillusionment.

When Facebook rebranded as Meta in October 2021, it drew attention to VR and the metaverse headsets. But since then, sales for existing VR headsets have under-performed, usage has been worse and the anticipated explosion in successful VR software companies isn’t yet a reality.

Shares of Meta were down 1% in premarket trading Monday.

—CNBC’s Kif Leswing contributed to this report

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