Technological advancement has spawned new businesses and reshaped our daily routines. Micron-sized transistors, which are the building blocks of computing, have been developed. Gadgets that seemed like science fiction a few decades ago are now being built and sold by companies thanks to advancements in manufacturing technology. Users can “enter” a virtual social network in a metaverse, a three-dimensional online environment. Metaverses also include digital transactions and virtual interaction with real-world objects. A number of research firms believe that the industry is on a path to rapid expansion.
Insider Monkey highlights the 10 metaverse stocks that you can consider investing in. Tencent Holdings generated RMB142 billion in revenue and RMB31.75 billion in net income during the fourth quarter of the current financial year. There was an estimated HK$4.4 trillion in capitalization on December 23, 2021. Unity Software Inc. reported revenue of $286 million and non-GAAP EPS of -$0.06 for the quarter, beating expectations for both metrics. They’re Silver Lake Partners, a partnership between Jim Davidson and Dave Roux. Another company that provides a metaverse setting is Roblox Corporation. Toward the end of 2021, Needham predicted that the company would be valued at $136. Despite the pandemic-induced growth in the gaming sector, Roblox has yet to reach its peak. For the third quarter of its fiscal year, Autodesk, Inc. generated $1 billion in revenue and non-GAAP EPS of $1.33. Deutsche Bank lowered the company’s price target to $330 from $370 in November 2021. QUALCOMM Incorporated generated revenue of $9 billion and non-GAAP EPS of $2.55 in its fiscal fourth quarter. In November 2021, Mizuho increased the company’s price target from $170 to $195. For more details, click 10 Metaverse Stocks That You Can Consider Investing In.
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