Metaverse

Apple Joins Facebook in Metaverse Investment

Apple Joins Facebook in Metaverse Investment

  • Apple CEO Tim Cook has announced that the company is planning to invest in the Metaverse
  • The tech giant disclosed its ambition when questioned about the metaverse during its Q1 2022 earnings call
  • This comes amid estimation by the investment banks Goldman Sachs and Morgan Stanley that the metaverse has the potential to reach an $8 trillion market cap

Apple CEO Tim Cook has disclosed that his company sees a lot of potential in the metaverse and is set to invest.

Apple

The tech giant boss was asked a question during the company’s Q1 2022 earnings call last week- “How are you thinking about the metaverse opportunity and Apple’s role in that market?

Cook claims that the company finds exploration of the digital space to be interesting and is planning to invest.

“We’re a company in the business of innovation, so we’re always exploring new and emerging technologies. And I’ve spoken at length about how this area is very interesting to us.”

Several tech giants have been exploring investment in the metaverse after seeing the huge potential in the industry.

Global investment banks Goldman Sachs and Morgan Stanley have tipped it to be an $8 trillion market opportunity.

Read also: Shiba Inu to Launch Metaverse “Shibaverse”

Tech giant Facebook led the push into the metaverse when CEO Mark Zuckerberg announced that his company was investing heavily in it.

The social media giant also changed its name from Facebook to Meta to indicate interest in the venture.

Follow Naija.fm on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.

Show More

Related Articles

Back to top button