Apple To Invest In Metaverse Area Soon - Exclusive.

Apple To Invest In Metaverse Area Soon - Exclusive.

2022-01-28 | Mike Hallen

Apple To Invest In Metaverse Area Soon - Exclusive.

Apple's shares rose in after-hours trading following CEO Tim Cook stating throughout the firm's Q1 2022 earnings call that he saw significant opportunity in the Metaverse area.

When questioned regarding Apple's chances in the Metaverse throughout a teleconference on Jan. 27, Cook answered, "we foresee a lot of opportunity in this sector and are investing appropriately."

The Metaverse is a user-created interoperable virtual environment that offers sociability, games, and even live performances. Whilst it may be viewed via a browser, the encounter is enhanced by using virtual reality (VR) or augmented reality (AR) (AR).

APPL fell roughly 3% to $159.22 throughout normal trading hours but has now risen 8% to $167.23 in after-hours trading. The Metaverse was only among the subjects mentioned during the conference call.

According to Appleinsider, Cook mentioned on the Jan. 27 call that Apple (APPL) now has a plethora of 14,000 apps on its App Store that were built utilizing the AR development platform ARKit. Apps built with ARKit might assist users in gaining access to the Metaverse.

While Meta has focused on utilizing the Oculus headset to engage people in the Metaverse, Apple is betting big on augmented reality. Apple was supposed to debut a headset in 2022, but Bloomberg claimed on Jan. 14 that it might be delayed owing to hardware as well as software issues.

Despite Cook's endorsement of the Metaverse, it is expected that the headgear in development will be centered on gaming, communication, as well as content consumption. So far, the biggest global firm by market capitalization has lagged after other tech titans like Meta as well as Microsoft, both of which have made public aspirations to expand in the Metaverse.

Microsoft just paid $69 billion for Activision Blizzard in order to grow [Metaverse gaming].

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