Over the past few weeks, Apple’s stock has shown a pattern of trading sideways, known as a “trading range” by Wall Street analysts. The stock has hit resistance at the top and found support at the bottom, and now it appears to be on the verge of a potential “breakout.” This could be a bullish sign for the stock based on technical analysis, especially if accompanied by high volume.

Apple has recently recaptured the $3 trillion valuation level that it first hit almost two years ago. At the beginning of this year, Apple’s stock was trading at $125 and has since risen by nearly $70, resulting in a gain of over 55% for the year. The return to the $3 trillion level is attributed to Apple’s strong ecosystem and the growing potential of its Services business segment.

Investors are optimistic about Apple due to the promise of the Vision Pro spatial computer, which symbolizes the potential for a new dominant device in a post-iPhone world – Apple Glass. This represents Apple’s first step towards its AR specs, which could deliver a world-first experience akin to the promise of Google Glass in 2012.

While the iPhone continues to be a significant revenue driver, major investors are looking beyond it for the next big thing. The real product that could take Apple to the next level is the device that follows Vision Pro. Despite the lack of recent updates, Apple Glass, or its AR specs, is still seen as the Next Big Thing for the company.

Apple CEO Tim Cook has expressed his enthusiasm for AR, leading to speculation that he may unveil the next groundbreaking device that could potentially replace the iPhone. This could be a crucial moment for Apple, similar to when Steve Jobs first introduced the iPhone in 2007. The potential for a new revolutionary product has investors and analysts alike excited about Apple’s future prospects.