Analyst says iPhone 8 will cause a ‘paradigm shift’ because of Apple’s lead in AR tech

Well known Apple analyst Gene Munster is today out with his latest predictions and expectations for Apple and the iPhone 8. As noted by CNBC, Munster today spoke on the effect the upcoming iPhone 8 could have on the market, saying the device will lead to a “paradigm shift.”

Munster explained that because of the iPhone 8 will feature “augmented reality as its foundation,” the device will lead to a “paradigm shift” in the computing industry:

It’s not gonna be something that’s going to be a catalyst for Apple’s sales over the next few years, but that’s going to lay the foundation of the next computing paradigm.

We think Apple has a lead in terms of this paradigm shift coming in computing.

Munster goes on to explain that the combination of Apple’s lead in augmented reality technology, as well as its ever-growing Services business makes it one of the top technology stocks right now. “You start to get more comfortable when you put together the services side of the business on top of the augmented reality side,” Munster said.

On other the hand, tech investor Paul Meeks sat opposite of Munster on CNBC and explained that he isn’t as big of a fan of AAPL right now. He explained that when he looks at Apple’s Services business, he needs to see “more cloud and more content” before he truly buys into the potential of the business.

Earlier today, a Bloomberg report offered more details on Apple’s augmented reality plans. The report claimed that in the interim, Apple has “hundreds of engineers” devoted to the technology, including some from the iPhone camera team. The goal here is reportedly to add “AR-related features for the iPhone.” Furthermore, the long-term goal here is to reportedly release “AR-enhanced glasses.”

Munster isn’t the only analyst to speak highly of AAPL in recent weeks. Analysts at Citi increased their target price for AAPL from $140 to $160 based on iPhone 8 rumors, while Ming-Chi Kuo of KGI Securities expects Apple’s new iPhone 8 to significantly impact the supply chain this year. Furthermore, Kate Huberty at Morgan Stanley recently stated that she doesn’t think Wall Street realizes the full potential of the upcoming iPhone 8.