The market is busy squawking today about Meta Platforms‘ (NASDAQ:META) upcoming 50-cent-per-share dividend. Evidently, recent things are at all times more buzz-worthy than old things as Apple (NASDAQ:AAPL) has distributed quarterly dividends for a long time, and its forward annual dividend yield is larger than Meta’s shall be.

That said, I can’t deny that Meta’s blowout quarter was more eye-catching than Apple’s Q1 FY2024 results. Yet, Apple’s quarterly results and guidance aren’t the one notable developments. The iPhone maker also released a virtual reality (VR) headset, and CEO Tim Cook teased the upcoming release of generative-artificial-intelligence (AI) product features.

In other words, investors shouldn’t be so distracted by Friday’s 21% single-day surge in META stock that they overlook one other essential Magnificent Seven member. Perhaps if Apple can overcome its challenges, it could possibly provide outstanding value to its shareholders this yr.

Apple’s high-ticket headset and AI announcement

Before I get to the essential event, which is Apple’s earnings report, I can’t just ignore the corporate’s other recent developments. Amongst them is the long-awaited release of the corporate’s Vision Pro VR headset, which is obtainable in stores today.

I’ve heard this headset described as mixed reality and augmented reality, but there’s no must split hairs here. What matters is that Cook touted this product because the “most advanced consumer electronics device ever created.”

That’s a heck of a claim, and there’s a certain level of corporate confidence that comes with charging $3,499.99 for a headset. Nonetheless, we’re not talking a couple of fly-by-night gadget maker here. Apple is an industry bellwether, so perhaps people will actually cough up $3,500 for the Vision Pro headset.

The info backs up this concept as Apple reportedly fielded 160,000 to 180,000 Vision Pro pre-orders over the weekend. One other report claims that “[a]round 200 people had lined up ahead of the 8 a.m. launch” to buy the Vision Pro headset at Apple’s Latest York City flagship store, “including customers from around the globe.” Thus, you’ll just need to wait and see if this pricey piece of kit seems to be a bestseller or a flop.

Meanwhile, since Big Tech CEOs are almost required by law to say AI multiple times during their earnings calls, it’s no surprise that Cook declared that Apple is spending a “tremendous amount of effort and time” on it. Cook also mentioned during Apple’s Q1 2024 conference call that the corporate continues to “spend money on technologies that may shape the longer term” — including AI, naturally.

Interestingly, Cook teased that Apple is “excited to share the main points of our ongoing work in that space later this yr.” Could the corporate be on the cusp of releasing recent product features with game-changing gen-AI technology?

Unfortunately, that’s a known unknown in the intervening time.

Cook stopped short after letting the cat out of the bag, remarking, “Let me just say that I believe there’s an enormous opportunity for Apple with generative AI and with AI, without entering into many more details or getting out ahead of myself.”

China stays an issue for Apple

Cook declared that Apple’s quarterly revenue growth was partially “fueled by iPhone sales.” That could be the case, but it surely doesn’t tell the complete story.

Actually, Apple’s iPhone sales in China didn’t “fuel” its quarterly sales growth. Essentially, the corporate’s in-China sales declined 13% yr over yr to $20.8 billion.

This helps to clarify why AAPL stock fell on a day when technology stocks, led by Meta Platforms, generally moved higher. Still, CFRA analyst Angelo Zino seems optimistic about Apple’s performance in Asia, even when China is a pain point.

“Although China’s softness implies share loss, growth across the remaining of Asia, installed base rise, and sustained +10% Services growth are good health indicators,” Zino argued.

The analyst’s Hold rating and $210 price goal for Apple stock seem quite reasonable. The corporate isn’t in deep trouble, but issues in China are prone to preclude the sales hyper-growth that many investors appear to expect nowadays from Big-Tech businesses.

In any event, Apple’s quarterly revenue grew 2% yr over yr to $119.6 billion, and its adjusted EPS increased 16% yr over yr to $2.18. That’s decent growth, but it surely’s nothing to jot down home about, especially for a Magnificent Seven member.

Thus, it’s mostly a waiting game at this point. Will Apple’s expensive headset sell out or fizzle out? What exactly does Cook take into account when it comes to upcoming AI features for Apple’s products? These mysteries have yet to be solved, so I’m just neutral on AAPL stock until further notice.