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Wednesday, January 26, 2022

Apple shares enjoy a boost from metaverse frenzy

The Wall Street Journal reported on Wednesday (January 12) that Apple is looking into some speculation as to whether the company will join the metaverse.

This comes as there has been a lot of talk recently about the Metaverse referring to the virtual world where companies are trying to make it so that people can live virtual lives.

Apple hasn’t been central to that — but there’s been a lot of talk about how it can get away with it, with its stock price rising and the company looking to hit a new record high, hitting $3 earlier this month. is the first value above a trillion. During intraday trading.

According to speculators, Apple may be able to capitalize on the metaverse in the coming years by creating an expanded reality device.

That said, the company isn’t forthcoming about any plans, except for CEO Tim Cook’s praise for similar technology from other companies in recent years, saying it’s “serious” for Apple’s future. would be particularly important”.

Facebook’s parent company Meta, which renamed itself late last year to capitalize on the virtual reality aspects of CEO Mark Zuckerberg’s plans, has seen its shares rise 6.7% since then. However, Apple has gone even higher, jumping 18% to $175.53 as of Wednesday.

While the Metaverse is currently based on a lot of speculation, those backing it say it could evolve into a digital realm that people will use to work, play, shop and participate in entertainment.

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Apple recently backed an alternative payment system in South Korea, which would help comply with a law from September that prohibits App Store operators from requiring the use of their own in-app payment systems.

See all: Apple supports alternative payment system in South Korea

Both Google and Apple plan to offer alternative payment systems at lower fees to help comply with the law.

“Apple has great respect for the laws of Korea and a strong history of collaboration with the country’s talented app developers,” the company said in a statement. “Our work will always be guided by keeping the App Store a safe and trusted place for our users to download their favorite apps.”

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New PYMNTS data: Authentication Identity in the Digital Economy – December 2021

Apple shares enjoy a boost from metaverse frenzy

About this:More than half of US consumers think biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs – so why are fewer than 10% using them? PYMNTS, in collaboration with Mitek, surveyed over 2,200 consumers to better define the perception versus usage gap and identify ways businesses are promoting use.

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World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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