Apple CEO Discloses Interest in Investment in Metaverse, Stocks Jump

Earlier this week, Apple Inc. CEO Tim Cook discussed his plans for the company’s AR applications, which was followed by a strong investor response. Although APPL dropped about 3% during trading hours, it made a jump of up to 8% in the after-hours. Apple Inc. Interested in Metaverse According to the statistics, Apple Inc is home to 14,000 Augmented Reality Applications on its App Store which are designed utilizing the ARKit – an AR developing platform and Tim Cook believes that this number will only rise after further investments. On Thursday, in response to a question regarding his plans for metaverse, he commented: “We see a lot of potential in this space and are investing accordingly. 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 referred to as a shared virtual world environment created for the customers, that aims to provide a means to socialize, a gaming platform, and even live shows. The Metaverse can only be accessed through an internet connection, with the help of Virtual Reality or Augmented Reality. Tim Cook’s comment alone assisted Apple greatly by driving its stocks nearly 5% in after-hours trade. Based on numbers, Apple’s services revenue leaped by 24% to $19.5 billion. 785 million subscribers were added to Apple Inc through the numerous paid services like streaming music and playing games. Introduction to Augmented ...