The Most Active Stocks to Buy Today? 4 Metaverse stocks to watch
Metaverse stock has underperformed over the past year stock market so far this year. As such, investors may be wondering if this is an opportunity to buy the dips. Before we dive deeper, let’s have a basic understanding of what the metaverse could possibly be one day. It essentially refers to the next step in the evolution of the Internet. It could be a digital world where people can gather to work, play and hang out while having an immersive three-dimensional experience. Or it could just be a fancy term for the advancement of virtual reality. As a result, many companies have jumped on the Metaverse bandwagon in anticipation of a new digital economy.
Recently, Qualcomm’s (NASDAQ: QCOM) CEO claimed that the best is yet to come for Metaverse adoption and investment. He believes that “it’s going to be a very big opportunity,” and Qualcomm already powers more than 40 virtual and augmented reality devices in the world today. In addition, such as Meta (NASDAQ:FB) continue to invest in the metaverse despite the huge losses. Last year, Meta spent more than $10 billion on its reality labs business. However, such a strong commitment from one of the largest and most influential companies in the world could bode well for the industry. Given these considerations, betting on companies that have a place in the metaverse could be a worthwhile play going forward. So, here are some of the best Metaverse Shares know in the stock market today.
When searching for the best Metaverse stocks today, Roblox often comes to mind. Essentially, this is a technology company running a platform for human co-experience. After registering on the platform, users can personalize their Roblox avatar and make upgrades through the company’s avatar marketplace using virtual currencies. In addition, users can interact with each other within the platform to explore and develop 3D experiences. As such, it should come as no surprise that investors who believe in a future defined by the Metaverse would keep a close eye on RBLX stock.
Last week, Spotify (NYSE: PERIOD) announced that it will be the first music streaming brand to have an official presence within Roblox. The company launched Spotify Island, a place where artists and fans could come together to unlock exclusive content and purchase artist merchandise. Apart from that, players can explore and interact by walking, running, touching and picking up different objects. From this we can see that companies are looking at Roblox as a way to unlock the Metaverse. At its current valuation, would RBLX stock be a great opportunity?
Another top name that could play a major role in the Metaverse is Unity. For those who don’t know, the company provides a platform for creating and running real-time 3D interactive content. On the one hand, the Operate solutions allow customers to create and monetize their content across a range of third-party content distribution platforms. On the other hand, its Create Solutions are used by content creators and designers to create interactive 2D and 3D content.
With the company due to announce its first-quarter results later today, all eyes are on U stock to see if it can continue its impressive growth from the past year. In the previous quarter, Unity reported quarterly revenue of $315.9 million, up 43% year over year and ahead of guidance. Additionally, full-year 2021 revenue was $1.1 billion, up 44% over the same period in 2020. These impressive results were largely due to the company’s exceptional performance and innovation. Now do you think Unity could repeat its success in the future? If yes, would you invest in U stock ahead of earnings report?
Similar to the previous entry, Autodesk specializes in 3D design. Products include AutoCAD Civil 3D, Architecture, Engineering & Construction Collections, Autodesk Build, Revit, Fusion 360 and many more. The company also provides product development and manufacturing software to manufacturers in the automotive, transportation, industrial machinery and building products industries. Of course, a company of this nature would likely be in a prime position to capitalize on a Metaverse future.
In April, the company announced that Evans General Contractors was rolling out its Autodesk Construction Cloud. Aside from that, Evans will also integrate the powerful construction management platform into its standard operations. This allows teams at Evans to maximize coordination between project stakeholders while minimizing errors on those projects. All in all, Autodesk is changing the world with its technology in architecture, engineering and even media entertainment. Against this background, would you bet on the future of the ADSK share?
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To round up the list, we have multinational technology company Nvidia. Known for its line of graphics processing units (GPU), the company’s products and services are used by many of the major industries that dominate the world today. In fact, the company invented the GPU and has since paved the way for next-generation computer graphics, high-performance computing, AI, and data centers. In late March, Nvidia announced a number of new features for its Nvidia Omniverse platform during the Game Developers Conference.
More specifically, the company announced the Nvidia Omniverse Cloud, a suite of cloud services that gives creators and developers instant access to the Omniverse platform. This would effectively allow developers and creators from around the world to jump onto the Omniverse to collaborate and collaborate without having to transfer huge datasets. Apart from that, Nvidia also announced new features that will make it easier for developers to share assets, sort asset libraries, and use AI to animate characters’ facial expressions. This includes updates to Omniverse Audio2Face, Omniverse Nucleus Cloud, Omniverse DeepSearch and the introduction of Unreal Engine 5 Omniverse Connector. With so many happenings at Nvidia related to the Metaverse, would you add NVDA stocks to your portfolio?
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