Piper Jaffray analyst Munster says that Apple is working on Augmented Reality
The analyst says that augmented reality has a chance to be "as profound a technology platform as the smartphone today." He also noted that Apple's advantage in designing fashionable devices can help it produce something that might be more desirable to consumers than AR products currently on the market.
Despite all this, Munster says that there is no guarantee that at the end of the day, all of this work will result in a product for consumers. Even if nothing comes of this work now, Apple might find it to be technology it can use in the future for a stand alone product, or to enhance another device.