Apple Inc. (AAPL) shares hit a new all-time high of $348.15 on Tuesday following the launch of its home hardware lineup, but ended the day slightly lower at $341.27. The company unveiled the Home View, a $299 display designed to connect smart home accessories, email, and messaging. Gene Munster of Deepwater Asset Management noted that the new devices show Apple's "product velocity is increasing," but argued that the strategy "misses the mark" on the artificial intelligence sector.
Munster estimated Apple will sell around four million Home View units, adding $1.5 billion to the company's projected $525 billion revenue for fiscal 2027. He called this an "incremental" gain, contributing roughly 1% to Apple's total revenue. The launch is part of a broader ecosystem push, including a $299 Apple TV with a remote-finding feature and a "Home Collection" of third-party accessories.
Despite the hardware expansion, Munster warned that Apple is overlooking the larger shift toward generative AI. He argued that consumers face too much "friction" integrating smart home devices and are "really ready for bots, for specialized bots." Munster previously cautioned that Apple risks losing out on the services upside if users lock into competitor AI workflows, such as Meta Platforms Inc.'s META Muse or Space Exploration Technologies Corp.'s SPCX Grokbot.
The stock's intraday record coincided with reports of increasing demand for Apple's upcoming foldable smartphone, the iPhone Duo. Apple reportedly increased supply chain orders for the device by 30%, taking initial supply estimates to 10 million units ahead of Oct. 16 preorders. As of Wednesday, AAPL was up 0.44% in premarket trading, with a 37.80% gain over the last year and a 25.35% increase year-to-date.