MarketWatch First Take: Apple, more than Meta, holds the key to unlocking a ‘metaverse’-type world of AR

by | Nov 1, 2022 | Stock Market

It has been more than a year since Facebook parent Meta
META,
-6.09%
started touting the metaverse, but many of us are still scratching our heads about it. Meta CEO Mark Zuckerberg did little to ease the confusion during last week’s third-quarter earnings call. When quizzed by an analyst on the metaverse revenue opportunity, the Meta chief gave a rambling answer.

But the numbers are clear – Meta is pumping vast amounts of money into making the metaverse a reality. The company’s Reality Labs segment, which includes the metaverse, reported a third-quarter loss that widened to $3.672 billion from $2.631 billion in the same period last year. Opinion: Facebook and Google grew into tech titans by ignoring Wall Street. Now it could lead to their downfall But it will take much more than the $1,500 Quest Pro headset to move the metaverse needle. If Meta, or any other company for that matter, wants to really harness virtual and augmented reality, then consumers will need a smaller, less intrusive device. Meta has talked about one day shipping AR glasses but that is still in the future. For me, the big leap forward around augmented reality will come when we can easily replicate the work we do on a laptop on our smartphones. In this way, smart glasses could use a smartphone to provide a view of a desktop and all the applications that it contains. That is why I think that a company like Apple Inc.
AAPL,
-1.54%,
with its history of combining device form and function, will play the key role in opening up this brave new world. In a recent interview with the Dutch media outlet Bright, Apple Inc.
AAPL,
-1.54%
CEO Tim Cook described augmented reality as a “profound technology” that will affect everything. Apple is expected to announce its own AR/VR headset over the coming m …

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