Augmented reality is slowly growing quickly. According to a statement released last year, AR was worth $350 million in 2018, and it predicted to grow at a CAGR of around 150% from 2019-2024.
Among the areas in which AR is expected to be used soon are mobile devices, social media, virtual conference calls, and automotive devices.
Here’s a list of 5 Augmented Reality Stocks, investors will want to keep an eye on as the harbingers of the (fruitful and rapidly approaching) AR era.
1. Sony Corp. (SNE)
The story of the VR market is simple: Companies have tried to entice consumers with unproven and highly costly technology, and when that inevitably goes wrong, they eventually pivot to enterprise customers. The exception to this rule has been Sony, which has positioned its PlayStation VR (PSVR) headset as an excellent choice for VR “noobs.” The affordability of the platform coupled with an impressively huge library of games makes it an impressive entry point for gamers who are interested in virtual reality and know and trust the Sony brand. This has made the PSVR the best-selling VR headset on the market, with 5 million units sold as of January 2020. Given the calm reception for Sony’s VR headset, there’s a powerful likelihood that an updated version will be released sometime after the new PlayStation 5 hits store shelves this holiday season.
2. Apple (AAPL)
Speaking of Apple(NASDAQ: AAPL), is a name to keep in mind if you believe augmented reality is a serious opportunity.
Yes, it’s smartphones and tablets are powerful computers that seem to become more powerful with each iteration. That’s not why the company is such an exquisite AR prospect though. Rather, Apple is reportedly creating its augmented reality headset, like Google Glass.
The device likely wouldn’t launch until 2023, according to Jesus Dias of Tom’s Guide. But the market rewards potential about as much as it does achieves real results, so it’s something that could begin to positively influence the stocks soon and continue as the presumed launch date nears.
3. Immersion Corporation (IMMR)
Immersion Corporation (NASDAQ: IMMR) has obtained a spot on a list of outstanding AR stocks to watch with its TouchSense(r) Force technology that makes display screens a tactile, haptic experience.
It’s been incredibly impressive in the VR gaming world, but the possibilities are just now starting to be understood in full.
4. Lumentum (LITE)
Lumentum creates the kind of 3D sensor lasers that can turn a smartphone into somewhat a radar, an essential piece of the augmented reality movement. If the name Lumentum rings a bell, there is a good reason. It is a stock driven into the spotlight near the end of 2017 when Apple CEO Tim Cook started talking up augmented reality’s prospects. Lumentum’s shares are promising, and investors may want to look into making their investment.
5. Qualcomm (QCOM)
Speaking of powering your VR experience, Qualcomm has been capitalizing heavily on virtual and augmented reality and investing big on 5G. With 5G cellular networks come faster internet speeds, which means makers of AR and VR headsets can build their gadgets smaller and lighter as they split computing between the device and the cloud. Qualcomm aims to be the first-mover once 5G becomes widely available. The company released its new XR2 chipset platform – a version of its Snapdragon 865 chip – which is also “the world’s first 5G-supported extended reality (XR) platform”, in December 2019. The company has struck a contract with Pokémon Go developer Niantic to create AR glasses using Qualcomm’s XR2, while Beijing-based startup Neal will release a pair of AR glasses using Qualcomm’s older chipset sometime this year.
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