The Metaverse was once heralded as the future of the internet, but despite massive investments by tech giants, its true potential remains untapped. Still, the top tech companies globally are pouring resources into the Metaverse, pushing the boundaries of technology at a rapid pace. Savvy investors, keen on spotting nascent opportunities, are eyeing three key Metaverse stocks for a piece of the action.
Meta Platforms (META)
Meta Platforms (NASDAQ:META) emerges as a standout choice among Metaverse stocks after rebranding from Facebook to Meta in 2021. Noteworthy for being the seventh-largest company globally by market cap, Meta stands among the elite few with a valuation surpassing $1 trillion. With 53 out of 62 analyst recommendations pegging Meta as a Buy or Strong Buy in April, the stock boasts a bright outlook. Moreover, Meta’s relentless innovation in products like Oculus AR/VR goggles and Rayban Meta Smart Glasses underscores its Metaverse commitment.
Despite Reality Labs incurring losses of over $45 billion since 2020, Meta’s strategic shift towards the Metaverse while venturing into enterprise solutions positions it for explosive growth. Trading at attractive multiples with a stellar revenue CAGR of 32% over the last decade, Meta offers investors not just Metaverse potential but a robust growth story.
Apple (AAPL)
Apple (NASDAQ:AAPL), the world’s second-largest company by market cap, is synonymous with innovation. Bolstered by 32 Buy or Strong Buy ratings out of 38 analysts, Apple’s foray into AR/VR with VisionPro Headset signals its Metaverse ambitions. Boasting an impressive ecosystem of over 2.2 billion active devices worldwide, Apple’s VisionPro offers a glimpse into its Metaverse vision, enabling users to seamlessly engage in virtual reality experiences.
Trading at reasonable multiples and with recent commitments to AI chips and the Metaverse, Apple represents a compelling opportunity on the cusp of explosive growth.
Autodesk (ADSK)
Autodesk (NASDAQ:ADSK), a software company specializing in architecture and design platforms, leverages the Metaverse to enhance user experiences. Facilitating remote collaboration and precision simulation, Autodesk harnesses the Metaverse to drive efficiency and productivity for its software users.
Despite a modest loss in 2024, analysts remain bullish on Autodesk, with price targets indicating significant upside potential. Trading at attractive multiples, Autodesk represents a well-managed company poised to sustain its impressive revenue growth.
