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One of the hottest areas of technology to take the stock market by storm in recent years is the Metaverse. Virtual reality space has long been part of science fiction novels and films for many years. And thanks to advances in virtual reality (VR) technology and computing power, this fiction is slowly becoming reality.
Since most of us are comfortable with the concept of the metaverse, it’s only natural that many would come up with a list of the best metaverse stocks to watch right now.
According to a report by McKinsey & Co., the Metaverse could be worth about $5 trillion by 2030. In the report, the consultancy found that around 59% of consumers are excited about how this technology could improve our experiences in the virtual world. Better still, many tech companies are developing and commercializing the Metaverse.
Of course, the most obvious metaverse stock is probably meta platforms (NASDAQ:META), formerly known as Facebook. Since changing its name, the company has launched Horizon Worlds, a metaverse platform in VR. For those unfamiliar, it allows users to use their avatars to interact with each other in a virtual world.
Given the company’s commitment to developing Metaverse this year alone, investors may want to pay more attention to this area. That being said, do you have this list of top Metaverse stocks on your watch list today?
The Best Metaverse Stocks
1. Roblox
Roblox, which benefited from the rise of online gaming during the pandemic, is one of the pioneers of the metaverse. Some might even argue that it’s the closest thing to a mainstream social metaverse.
With a mission to build a human co-experience platform that enables billions of users to come together, the company seems well positioned for the Metaverse. And if you think the metaverse is going to be really huge, maybe try buying the drop in RBLX stock.
Undoubtedly, Roblox’s growth has slowed as the economic reopening prompts more kids to spend their free time outdoors. But that doesn’t mean the company has lost its edge and appeal. Impressively, Roblox has kept its users energized throughout the pandemic.
The most recent update noted that it had 50.4 million daily active users in May. If anything, it shows that their users continue to spend time on the platform and help the company generate revenue. With that in mind, would you put RBLX stock on your watch list today?
2. Unity software
3D content creation platform Unity software is another top Metaverse stock to watch in the stock market today. The company is a platform for the creation and operation of interactive, real-time 3D content. In addition, the company also offers tools for VR, augmented reality (AR) and gaming.
All of this fits perfectly with the Metaverse theme. However, many investors are wondering if now is a good time to jump into U stocks.
Although the company is a mainstay in the gaming space, its non-gaming businesses are growing faster. In particular, its real-time 3D and the Metaverse are the two segments that have the most potential, with 34 closed deals in the last quarter alone.
In addition, the company’s management is also leaning toward the Web3 opportunity. Given these potentially massive growth opportunities, would you consider U stocks in the stock market today?
3. Nvidia
If you are looking for top Metaverse stocks to buy, Graphics Specialist NVIDIA would often occur to me. The semiconductor giant reported better-than-expected numbers in its latest financial report. According to its latest quarterly report, revenue rose 46% to $8.29 billion.
Though the growth rate is lower than the previous quarter’s 53%, revenue still beat expectations of $8.1 billion. Overall, the company relies on continuous strength in the gaming sector. More specifically, sales were driven by the GeForce RTX 30 series, which remains the company’s best gaming product cycle in history.
Better yet, the recent collaboration between Nvidia and Siemens (OTCMKTS: SIEGY) to create the industrial metaverse is also worth seeing. According to this partnership, she could help companies reduce their costs of running their factories and buildings and speed up the design of new products.
In addition, the platform could also simulate products before deploying them in the real world. With that in mind, would NVDA stocks make up your list of the best Metaverse stocks to buy right now?
4. Microsoft
As a longtime player in the tech space, most should be familiar with it Microsoft and its wide range of offers. From Microsoft’s broad range of productivity and enterprise software solutions to its home computing offerings, this is evident.
Given the company’s broad offering, it’s not surprising that it’s taking more steps into the metaverse. Earlier this year, Microsoft announced it would take over Activision Blizzard (NASDAQ: ATVI). The acquisition is Microsoft’s latest Metaverse venture, following its Mesh for Teams and Hololens mixed reality division, its AR headset, and its platform.
At the company’s Build 2022 conference, Microsoft discussed its progressive Metaverse strategy, which largely includes the Teams collaboration platform. Mesh for Microsoft Teams will serve as the home for the company’s workplace metaverse.
Through Mesh, employees can hold immersive meetings that enable virtual participation. In addition, virtual brainstorming with a virtual whiteboard in the metaverse is another possible scenario. Microsoft also emphasized Mesh’s potential for all-hands meetings, workshops, and large-scale events. As the company touts the various uses of Microsoft Mesh, should you add MSFT stock to your watch list?
5. Autodesk
Last but not least we will look at the engineering and design software company, Autodesk. First of all, the company builds software tools for the industrial and technical metaverse. These tools allow people to virtually design, build, simulate, and manage machines.
For example, the company’s Revit software is a building information modeling program that allows architects to visualize their designs and present them to clients. In turn, it can be transformed into a virtual reality environment using plugins such as Autodesk Rendering.
Of course, a company of this nature would likely be in a prime position to capitalize on a Metaverse future. In May, the company released its financial results for the first quarter of the year. To get straight to the point, Autodesk posted total revenue of $1.17 billion, beating analyst estimates of $1.15 billion.
Compared to the same period last year, sales increased by 18%. And considering that Autodesk’s stock price has fallen nearly 40% over the past year, it’s only natural that some investors might be tempted to take a position. With all of this in mind, would you take a closer look at ADSK stock?
