Apple CEO takes interest in metaverses, company stock jumps

Apple is interested in metaverses

This Thursday, January 27, 2022, Apple organized his usual quarterly review conferencerevealing the company’s financial results for the period from October 2021 to the end of December 2021. Despite the announcement of the largest quarter ever for Applethe audience’s attention was focused on something else.

Asked by Katy Huberty, Managing Director at Morgan Stanley, about metaverse opportunities and of the place that Apple could take in this market, Tim Cook provided the following response:

“We’re an innovation company, so we’re always exploring new and emerging technologies and I’ve spoken at length about our interest in these technologies right now,” he replied.

Furthermore, Tim Cook also stated that Apple has “more than 14,000 augmented reality applications in the App Store”, already touching several million users. Finally, he added that he saw “lots of potential” in this new industry and that the apple company planned “to invest accordingly”.

πŸ‘‰ On the same theme – Apple CEO Tim Cook Confirms He Owns Cryptocurrencies

An Apple virtual reality headset for the metaverse?

The metaverse refers to a conceptual idea that in the future we could interact with multiple fictional environments. The most often cited example is the online multiplayer video game, but the ambition is above all to shape a future version of the Internet made up of virtual and interoperable spaces.

The concept of metaverses actually materialized with the advent of new technologies, including augmented reality. Thanks to virtual reality headsets, it is possible to superimpose any image on the universe around us.

While Meta has moved towards the use of the Oculus headset to immerse users in the metaverse, Apple relies on its own AR technology. The release of an Apple headset was planned for 2022, but it could be delayed due to technical issues with hardware and software.

Despite Tim Cook’s seeming endorsement of the metaverse concept, the helmet being developed would rather be for gaming, communication and content consumption. So far, Apple has lagged behind other tech leaders like Meta and Microsoft.

πŸ‘‰ To deepen – Microsoft: the acquisition of Activision Blizzard would be a gateway to the metaverse

Apple (APPL) stock jumps 5%

As the long-awaited announcement from the United States Federal Reserve (FED) approaches on Wednesday, the financial markets were feverish. The world’s largest company by market capitalization was no exception, showing a fall of approximately 15% since January 1.

That said, at the opening of the Wall Street stock market this Friday, the AAPL had jumped about 5% to open the session at $166.8, after closing at $159.2 the previous day. And yet, the metaverse was only a side topic of the conference, touched on substantially.

Of course, Apple would not be the first American juggernaut to turn to the metaverses. Last October, Facebook shed light on this industry by announcing its change of name to Meta. Moreover, since this announcement, Zuckerberg’s company recruited Apple and Microsoft employees with a vengeance to set up his metaverse project.

πŸ‘‰ Find our guide – Metaverse: understanding these virtual worlds based on blockchain and NFTs

Newsletter 🍞

Get a crypto news recap every Sunday πŸ‘Œ And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Lilian Aliaga


Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies to as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.

Leave a Reply

Your email address will not be published.