Apple has warned investors that future products like artificial intelligence (AI) and virtual reality headsets may not reach the profitability of the iPhone division. This statement, which for the first time directly addresses the potential margins of upcoming products, appeared in Apple's latest 10-K annual report and highlights the uncertainties in the new business areas.

New products, services, and technologies could generate lower revenues and lower profit margins than existing offerings," explained Apple, which could significantly negatively impact business results and financial standings. Particularly affected could be innovative areas such as the recently introduced Vision Pro "Spatial Computing" headset, which, with a price of $3,499, has recorded only limited sales figures.

Additionally, Apple is facing increasing regulatory pressure, particularly in the EU, where it may be the first to face a fine under the new digital competition rules for its App Store restrictions. The intensifying geopolitical tensions, also mentioned in the report, could challenge Apple in introducing its AI features.

Analysts remain cautious: Although Apple recently reported a 6 percent increase in revenue to $94.9 billion for the quarter ending September 28 and recorded record gross margins of 46.2 percent, the earnings from the new product categories are uncertain. Gene Munster from Deepwater Asset Management emphasizes the uncertainties in light of Apple's entry into new markets.

Some market observers still expect rising margins by the end of the decade, but doubt that AI and AR/VR can reach the margins of the iPhone and the highly profitable services division.