Sunday, January 29

Apple is investing and sees “great potential” in the metaverse, says CEO Tim Cook


For Hannah Perez

Apple highlighted the efforts it is making to expand its AR app offering as part of its foray into the metaverse.

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Apple is not lagging behind in the developments of the metaverse. After other tech giants like Meta, parent company of Facebook, Microsoft Y Samsung steps into the hottest trend in the tech space, the company behind the iPhone has made it known that it is also investing in this nascent sector.

During the quarterly earnings call on Thursday, the CEO of Apple, Tim Cook, spoke about the expansion of augmented reality (AR) applications. He added that the company sees great interest and is committed to the metaverse. We see great potential in this space and are investing accordinglyCook said when asked about the matter.

We’re always exploring new and emerging technologies and I’ve talked at length about how it’s very exciting for us right now.

The CEO noted the efforts of Apple in the space, suggesting that the number of AR applications in the portfolio could increase as the company invests in the metaverse. “We have over 14,000 AR apps on the App StoreCook said.

Apple enters the metaverse race

The latest statements by the firm’s leader suggest that Apple is preparing to take a more active role within the so-called metaverse, a broad term that refers to virtual online environments where people can interact, have fun, attend events and socialize through technologies such as virtual reality headsets, tokens non-fungible (NFT) and others.

Cook’s comments, as well as quarterly earnings and sales announcements, which beat expectations, caused shares to rise in prices. Apple. Shares jumped 5% after the company spoke about its efforts in the metaverse and announced an all-time record revenue of $123.9 billion.

as reported Reuters, income from services of Apple they soared 24% to $19.5 billion in the Christmas quarter just ended, beating analyst estimates of $18.6 billion. The company added 785 million subscribers to its handful of paying services, such as streaming music and games, up from 620 million a year ago and 745 million last quarter.

The bet of Apple by AR technology could represent an important gateway for users seeking access to the metaverse. The social media giant Meta (before Facebook) has leaned towards virtual reality (VR) headsets, as well as in a number of developments, to immerse users in the metaverse.

Apple, currently the world’s largest company by market capitalization, lags behind other industry leaders; however, for some, the tech giant’s foray is the crucial step in mainstream adoption of the metaverse. At least that had been the opinion of the bank’s analysts Morgan Stanley, who in December highlighted in a November report that mass-market adoption of “AR or VR will come when Apple enters the race“.


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Sources: Reuters, Bloomberg, Cointelegraph,

Article by Hannah Estefanía Pérez / DailyBitcoin

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