Tim Cook’s cookin’ up… Apple’s version of VR. Apple’s annual developer conference kicks off today. Analysts expect a new iPhone OS and a MacBook Air refresh. We may also see a long-awaited mixed-reality headset. Apple reportedly showed its board a prototype last month, a sign it could soon launch its first new hardware since its 2015 Watch. But the Fruit’s entering a market with heavy hitters: Meta’s Quest 2 has 78% market share, and Sony and Microsoft are also players. One analyst thinks Apple could ship 3M headsets next year.
Weddings, prom, and a grad party… not enough closet space. A packed season of IRL events is fueling demand for formal fits. Last quarter, Rent the Runway’s revenue doubled from the start of the pandemic in 2020, thanks partly to its return-from-home option. It’s a different story for rival clothing service Stitch Fix, which is struggling to lure new customers as lax office dress codes (think: elastic waistbands) cut demand for everyday outfits. We'll find out whether the uptick in summer soirees has affected orders when both report Thursday.