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Apple's stock soars to new heights, following the CEO's announcement of a metaverse investment

By Edvinas – Crypto Enthusiast - 29/01/2022

When Apple CEO Tim Cook said in the company's Q1 2022 earnings call that he could see some possible advancements in the cryptocurrency trading and metaverse domains, Apple's stock price jumped by 8%. In addition, the company's revenue has increased by up to 24 percent, to $19.5 billion.

Cook discussed Apple's metaverse prospects on the call on January 27. He stated that there are opportunities for AR innovations in the sector, and that investing in it would be a wise choice.

Cook also mentioned that Apple's App Store already has up to 14,000 augmented reality apps. The ARKit AR developer platform created these apps. The ARKit design structure facilitates users' access to the metaverse. “We’re always exploring new and emerging technologies” he said, “and I’ve spoken at length about how it’s very interesting to us right now”. While Meta has a firm hold on exploiting the Oculus Rift to draw consumers into the metaverse, Apple continues to bet on augmented reality. Although Apple had intended to introduce the Apple headset in 2022, it has been rumoured that it may be delayed due to software and hardware issues.

Apple is anticipating the release of its headgear, which will allow users to focus on conversation, gaming, and video consumption. In addition, the firm is up against IT behemoths like Meta and Microsoft, as well as blockchain start-ups like Decentraland, while Bloktopia and Ertha Metaverse are moving forward with their metaverse ambitions. If you are looking to buy altcoins, visit our website or get in touch.

In the meanwhile, Apple has released its financial statistics for the first quarter of fiscal 2022, which show an all-time high of $123.9 billion in revenue. Tim Cook stated that several new goods and services in the company's line-up have contributed to the company's sales record, as they continue their metaverse and Bitcoin investment strategy.

The metaverse, as we know it, is a digitally simulated environment backed by tech businesses and social media. It works with digital glasses, virtual reality headsets, mobile phones, and other devices that users can utilise to access the 3-D virtual or augmented reality environment. Recently, the Metaverse, NFTs and buying cryptocurrency have all taken centre stage in the conversation.

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