The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Apple's stock rises as the CEO discloses it's funding in the Metaverse

3 min reading

During an investor call, Time Cook stated that Metaverse products have a huge potential and also that the firm is investing in AR development on its devices.

After CEO Tim Cook revealed during the company's Q1 2022 earnings report that he notices substantial potential in the Metaverse space, Apple's stock price skyrocketed in after-hours trading.

Cook said, “We see a lot of potential in this space and are investing accordingly,” when questioned about Apple's prospects in the Metaverse in a call on Jan. 27.

“We're always exploring new and emerging technologies and I've spoken at length about how it's very interesting to us right now.”

The Metaverse is a user-created compatible digital environment that offers networking, games, and even live events. Though it can be retrieved via a browser, the experience is enhanced by using virtual reality (VR) or augmented reality (AR).

APPL fell 3% to $159.22 all through regular trading hours but has now gained 8% to $167.23 in after-hours trading. The Metaverse was one of many matters listed during the conference call.

According to Appleinsider, Cook said on the Jan. 27 call that Apple (APPL) already has a plethora of 14,000 apps on its App Store that have been built utilizing the AR development platform ARKit. Apps built with ARKit could assist users in obtaining entry to the Metaverse.

While Meta has focused on using the Oculus headset to engage people in the Metaverse, Apple is doubling down on augmented reality. Apple was expected to debut a headset in 2022, but Bloomberg speculated on January 14 that it might be postponed because of hardware and software issues.

Although Cook's acceptance of the Metaverse, the headset in development is said to be centred on gaming, interaction, and media consumption. As of now, the world's largest firm by market capitalization has trailed behind other tech giants like Meta and Microsoft, both of which have made public aspirations to expand in the Metaverse.

Microsoft just paid $69 billion for Activision Blizzard in a plan to develop the Metaverse game universe.

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.