• Analyst predicts that, with the exception of Apple, the metaverse will fuel the growth of major technology stocks

  • Apple is currently the most valuable stock in the United States and the world’s largest publicly traded firm, a milestone it achieved after temporarily exceeding a $3 trillion market value a few days ago.

    Despite the stock market’s dismal start to the year, the arrival of the metaverse and cryptocurrency-related technologies is sure to propel the growth of big tech stocks this year. According to Cyrus Mewawalla, GlobalData’s head of thematic research, tech enterprises whose business operations are based in whole or in part on Web3.0, cryptocurrencies, and the metaverse will see good growth regardless of the macroeconomic circumstances that will be witnessed this year.

    “If you’re in that space,” he says, “you’re going to prosper essentially regardless of macroeconomic difficulties.”

    Meta Platforms Inc (NASDAQ: FB), previously Facebook Inc, is one of the companies expected to benefit from the metaverse environment. The company’s name change to Meta reflects its new dedication to pursuing all things metaverse-related. A metaverse is a virtual world in which humans communicate with one another via digital avatars. Meta is a pioneering work in this regard, and it is regarded as one of the primary trademarks of Web3.0, which is seen as the next phase of the internet.

    Meta intends to provide a one-of-a-kind experience to all users via the Oculus Virtual Reality (VR) headsets. Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc (NASDAQ: GOOGL), and Apple Inc (NASDAQ: AAPL) are reportedly rumored to be developing their own virtual reality headsets. These pioneering efforts are now being displayed in medicine in many formats, a drive sponsored by Meta platforms and Microsoft.

    All tech stocks grew as a result of the metaverse, except Apple.

    Apple is currently the most valuable stock in the United States and the world’s largest publicly traded firm, a milestone it achieved after temporarily exceeding a $3 trillion market value a few days ago.

    According to Mewawalla, Apple’s potential for enormous growth jumps is currently non-existent.

    “In terms of sustaining its valuation, Apple is arguably the least likely to expand from here,” he said. “It has a very, very powerful ecosystem that is executed really well.” As a result, I see very little negative risk. But I see more upside potential in other big tech stocks.”

    Despite acknowledging Apple CEO Tim Cook’s feat of increasing the company’s market cap from $350 billion to $3 trillion since taking over the reins in 2011, Mewawalla pointed out that the company has lacked any visible blockbuster innovation in recent times, a stalemate that will likely change with the introduction of smart cars—if current speculation is correct.

    “But, other from the Apple Watch, whose operating system is simply an extension of iOS,” he continued, “there’s been almost no innovation in that time.” “In terms of a new major blockbuster product, the Apple TV was a bit of a flop.” There is now discussion of new blockbuster products such as an electric car. It might be a self-driving automobile. Perhaps smart glasses have anything to do with the metaverse. But it’s difficult to say until we see more proof of that, and Apple is notoriously secretive.”

    Other huge tech stocks, such as Amazon and Google, with so many antitrust concerns both at home and abroad, and with little interest in Web3.0 thus far, their rise may not be as resounding as that of other devoted tech firms.

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