Apple

Apple Teases Metaverse Plans

Yashika Gupta

Jan 06,2024
2 min read
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Apple Inc teased its metaverse intentions on Thursday as CEO Tim Cook talked about the expansion of the company's stoked reality apps, egging strong investor response. The company has AR apps on its App Store, and Cook suggested this number will rise with further investment.

"We see a lot of eventuality in this space and are investing consequently," said Cook, in response to a question about its plans for the metaverse, a broad term that generally refers to participated virtual world surroundings that people can pierce via the internet.

Apple critic Ming-Chi Kuo and Bloomberg have reported Apple plans to introduce an AR headset by this or coming time with spectacles to follow latterly. Apple has not yet intimately conceded these plans.

Cook's commentary on Thursday and daily profit and deals outgunned estimates, helped drive Apple stock up nearly 5 in after-hours trade.

Apple's services profit jumped by 24 to$19.5 billion in the just-ended vacation quarter, beating judges estimates of$18.6 billion. The company added 785 million subscribers to its sprinkle of paid services similar to streaming music and playing games, an increase from 620 million a time ago and 745 million last quarter.

Cook independently on Thursday said that Apple's exploration and development sweats are concentrated on the crossroad of tackle, software, and services.

"That is where the magic really happens, “Cook said." There is quite a bit of investment going into effects that aren't on the request at this point."

An AR device could open numerous openings to grow subscriptions. Being immolations for fitness exercises and videotape content could grow more seductive through immersive AR gests.

And as the services and subscribers have grown, Apple's gross profit perimeters have jumped above 40, drawing praise from judges.

Metaverse-related services, similar to AR apps, could flip Apple's profit blend, said critic Neil Shah of Negation Exploration.

"There's a significant downside to Apple’s services business potentially crossing its iPhone in the coming five times, "Shah said.