8 Percent Hike In Apple Stock Price Aa CEO Tim Cook Discloses Metaverse Plans
Apple stock price rose after Apple’s CEO Tim Cook said the company was investing in Metaverse. Tim Cook said that Apple already has 14,000 ARKit powered based apps, end-users might more easily access the Metaverse.
This year Apple iPhone makers had thought to launch an Apple headset. This headset would allow gaming, communication, and content consumption using Apple devices. Still, on January 14, a report by Bloomberg said, “that project is held up due to hardware and software difficulties.”
To indulge people in Metaverse, Apple has always focused on employing AR technology. Regardless of Tim Cook’s acceptance of Metaverse, headgear currently under development is centered on video games, communication, and content consumption.
Metaverse is a virtual world created by users that allows online gaming, socializing, and real-time concerns. Virtual reality and augmented reality are the best ways to enjoy gaming and mixing, even though they are accessible through browsers.
Apple is one of the world’s largest companies; however, Apple is falling behind its fellow tech Colossi in the Metaverse space. Earlier known as Facebook, Meta made the rebrand last October, indicating its focus on new technologies. Currently, social media is growing the world’s fastest supercomputer to indulge users into the Metaverse. The new AI project of Meta has already completed phase one, and the rest of the plans will be completed within the year. Even though the company saw massive failure with its Diem Stablecoin project, these growths make it one of the leading companies diving into the Metaverse.
Microsoft is the most formidable competitor of Meta. After Facebook changed its name from Facebook to meta, Microsoft announced its intention to bring Metaverse inside Microsoft. The company will blend mixed reality, and HoloLens works with video calls and meetings featuring real people and animated avatars.
However, everyone is not satisfied with the hype and positive feedback for the Metaverse. Criticisms of new things are natural, and time will decide how things work out. Playstation creator Ken Kutaragi said, “pointless pursuit.”