Apple stock jumped nearly 5% after hours with comments made by Tim Cook about the companies plans to explore augmented reality and the metaverse.
“We see a lot of potential in this space and are investing accordingly,” said Cook, in response to a question about its plans for the metaverse, a broad term that generally refers to shared virtual world environments that people can access via the internet.
An AR device could open many opportunities to grow subscriptions. Existing offerings for fitness workouts and video content could grow more attractive through immersive AR experiences.
What is Augmented Reality and why does it matter for apple and the metaverse
Augmented Reality (AR) is the integration of digital information with the user’s environment in real time.
AR overlays are becoming more popular because they are less obtrusive than VR headsets. AR can be accessed by using a smartphone or tablet, while VR needs to be experienced through a headset.
Augmented Reality is not just about adding graphics to your environment, but also about adding information that will change how you interact with it.
Apple is working on a pair of augmented reality glasses that will be able to project images and video onto the lenses, according to people familiar with the company’s plans.
The device would be able to show users information about the world around them without requiring them to look down at a screen. Apple has ordered near-eye displays from companies including Samsung and LG, according to these people.
The Metaverse is a virtual world that exists electronically. It is a computer-generated space that people can interact with.
The Metaverse is a virtual reality which exists electronically. It is a computer-generated space that people can interact with, in the form of text, graphics, video, or audio. The term was coined by Neal Stephenson in his 1992 novel Snow Crash.