Bank of America Merrill Lynch analyst Wamsi Mohan recently announced new revenue forecasts for Apple’s (NASDAQ: AAPL) AR initiatives. Mohan believes premium AR apps and associated incremental device sales could add an additional $8 billion in revenue for the company. If Apple were to pursue the much-rumored AR eyeware product, Mohan see his revenue forecast rising to $11 billion.
The forecast was largely driven by the increasing applications of AR technology. Retailers such as Lowes and Home Depot are already using AR to showcase consumer products in the home.
Such applications are expected to benefit the entire AR/VR chain. Increasing use of applications and experiences will continue to drive consumer demand for devices and associated components.
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Image Credits: Home Depot