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Apple’s CEO Unveils They Are Making Investment in Metaverse

www.thecoinrepublic.com 28 January 2022 17:00, UTC
Reading time: ~3 m

  • During an investment call, Tim Cook, Apple ‘s CEO, disclosed that Metaverse contains potential, and the organization is giving a thought to make investments in Augmented Reality tools on its devices.
  • Apple is seeking the latest and surfacing techs, and its CEO has had lengthy discussions regarding how interesting this concept is.
  • As of this writing, Apple was trading at a market price of $159.22, bearish by 0.29% in the previous 24 hours.

Apple Entering Metaverse?

Apple CEO has shown faith in Metaverse, says it has a vast potential, and the organization is making investments in AR for its devices.

As soon as this announcement was made, Apple’s share prices leapt after-hours trading after Tim Cook stated that Metaverse holds potential during the organization’s first-quarter earnings call.

When questioned on January 27, during a call regarding Apple’s opportunities inside Metaverse, Tim replied that the organization is seeing a lot of potential here and will make investments accordingly.

The Latest and surfacing techs are being explored, and Tim has hours of debates concerning how appealing Metaverse is currently to an organization.

Metaverse is an inoperable digital world made in elements by users, providing live concerts, gaming, connecting with individuals and many more things.

Apple’s shares escalated in after-hours trading to $167.23 but have slipped as of now to about 3% to $159.22. This was after the metaverse topic came to light during call.

Source: AppleInc. on TradingView

As per a report that during 27th January’s call, Tim indicated that Apple contains a troop of 14,000 applications on Apple Store that are customized utilizing ARKit, an augmented reality platform for development. Applications designed using this platform could be a way for users to attain accessibility inside Metaverse.


Other Giants Walking the Ground

Meta, previously known as Facebook, has shifted towards utilizing Oculus virtual reality headsets to sink individuals within Metaverse. Apple is taking their troops towards augmented reality. An Apple AR headset might set foot at some point this year, but a news agency highlighted on January 14 that it might get shifted because of software and hardware-related obstacles.

Despite Apple CEO’s embracing Metaverse, under developed headset is more likely to be concentrated on comms, content consumption and gaming. As of now, tech leviathan by market capitalization is relaying behind other technology mammoths, such as Bill Gates’ Microsoft and Mark Zuckerberg’s Meta, who are gaining fast momentum with open strategies for metaverse development.

Recently, Microsoft acquired Activision Blizzard, publisher of Top tier games like Call of Duty and World of Warcraft, for a whopping $69 Billion.

This announcement has increased hopes for Metaverse development, as big players mentioned above have already hopped inside it.

Metaverse is an exciting concept that offers a virtual universe to folks, allowing them to explore, socialize, and monetize their various acts inside it.

When this article was written, Apple’s shares were bearish by 0.29% in the previous 24 hours, trading at a market value of $159.22.

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