Analysts at Wedbush believe that the launch of Apple's Vision Pro heralds a potential "product renaissance" for the company. This hardware is also Apple's first step towards launching an artificial intelligence app store. Analysts suggest that the excitement surrounding the Vision Pro in the first weekend after its release was a huge uptick for Apple, with customers entering stores in person with "curiosity and interest in demos and purchases" that the company "hasn't seen in years."

"We believe Apple Vision Pro has the potential to be a game-changer in the coming years, with Cupertino achieving clear success with its next-generation form factor, far exceeding original market expectations," Wedbush wrote in a note to investors on Sunday.

Although expensive and with "a limited audience other than developers," Wedbush was "surprised" by VisionPro's early mass-market appeal. The 600 available apps initially developed for visionOS were "jaw-dropping" and "far exceeded expectations."

"We believe Apple Vision Pro has the potential to be a game-changer in the next few years, with Cupertino achieving clear success with its new generation form factor, far exceeding original market expectations," the analysts wrote.

This is "just the beginning" for Vision Pro, and according to industry research, the second-generation model may be priced under $2,000 and may be released in three models as "Apple looks to drive its installed base more aggressively."

The note's speculation on future models takes the form of what is often referred to as smart glasses, with "models that look like sunglasses" expected to appear in the next few years. As for Apple Vision Pro, sales are expected to exceed 1 million units in 2025.

Wedbush believes that Apple Vision Pro is also "Apple's first step into the field of artificial intelligence, and will eventually become an independent artificial intelligence application store." Apple is expected to conduct internal discussions at WWDC. Apple CEO Tim Cook's comments on artificial intelligence and plans for a later 2024 release have received attention from analysts.

"We also believe that Apple will add artificial intelligence generation technology to iPhone 16, which will mark the beginning of a new area of ​​device growth."

Apple's ultimate goal is to have VisionPro work with iPhones and other Apple devices in the next few years, "with many consumer AI use cases exploding in health, fitness, sports content, and autonomy."

Wedbush strongly disagrees with the suggestion that other Wall Street commentators "dismiss VisionPro as noise," calling it "the first step in a broader technology vision that Cooke plans to roll out into the installed base over the next few years."

It is expected that in the next 12 to 18 months, Apple will usher in "revival growth" and the company will remain a "high-quality technology stock worth owning."

Wedbush maintains an "outperform" rating on Apple with a $250 price target.