Apple Inc.’s CEO revealed in a meeting that there is huge potential for Apple in Metaverse and that his company plans to invest in projects comprising augmented realities within its self-produced products/devices. After CEO’s statement, the valuation of Apple’s stocks increased considerably.
An internal meeting regarding the Q1 investment call was convened under the auspices of Apple’s CEO, Tim Cook. During the meeting, Cook disclosed revealed his company’s interest in Metaverse and alike projects. He stated that his company is of the view that there is huge potential for Apple in joining the Metaverse. He also disclosed that his company is interested in investing in this augmented reality industry for sure.
Cook commented that Apple has never stopped looking and assessing emerging technologies and that Metaverse is one of them.
Soon after Cook’s statement, the value of stocks of Apple jumped otherwise the valuation had dropped by at least 3%. However, when the valuation increased, it instantly surged the price from US$ 159.22 to US$ 167.23. Apple revealed in later hours of day trading that its stocks’ valuation has increased above 8% in a single day.
Already, Apple has more than 14,000 applications in store which have been designed and developed on the basis of an augmented reality toolkit known as “ARKit”. Those of the applications in the Apple store, which have been developed through ARKit, are capable of allowing users to access projects of Metaverse.
However, in terms of technology, Metaverse technology is far more advanced and improved. As a matter of fact, Metaverse has adopted another headset device namely “Oculus” for a better virtual reality experience and interaction for the users. On the contrary, Apple has had to still rely on AR technology which cannot be compared with tech-improved devices such as Oculus. In fact, it had been long committed by Apple that it would also be issuing a VR headset.
It was suggested by Cook in 2021 that the launch of Apple’s headset could be expected in the year 2022. If the headset was forthcoming then Apple would have discussed it at any stage. However, not talking about the headset suggests that it will take further time for Apple to be able to launch an Apple-manufactured VR headset. According to Bloomberg, the headset may not be issued any sooner as the project has been facing certain challenges of tech and hardware issues. But one thing is for sure which is that the primary focus of Apple’s headset would be for gaming.
As has been revealed by Cook, it is very much possible that soon Apple will be investing in Metaverse. Already, Apple has been able to see the benefits as just the disclosure of interest has already surged Apple’s stocks’ value.