The tech stocks we’ve found look set to benefit from the growing popularity of the Metaverse
SmallCapPower | November 8, 2021: Facebook recently changing its name to Meta has sparked a lot of discussion about the Metaverse. According to Wikipedia, the Metaverse is the hypothesized next iteration of the internet with supported decentralized and persistent online 3-D virtual environments. This virtual space will be accessible through virtual reality headsets, augmented reality glasses, smartphones, PCs, and game consoles. The Metaverse has well-defined use cases within the video game, business, education, retail, and real-estate sectors. Today we’ve picked four stocks that could benefit most from the increasing growth of the Metaverse.
*Share prices as at November 5, 2021
NVIDIA Corporation (NASDAQ:NVDA) – $370.26
Computer Chips
NVIDIA is a global computer chip manufacturer. It operates in two segments, Graphics and Compute & Networking. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems. The Compute & Networking segment offers Data Center platforms and systems for AI, HPC, and accelerated computing; Mellanox networking and interconnect solutions; automotive AI Cockpit, autonomous driving development agreements, and autonomous vehicle solutions; and Jetson for robotics and other embedded platforms.
- Market Cap: $924.2B
- 30-Day Return: +43.7%
- YTD-Return: +127.9%
- 30-Day Average Trading Volume: 30,042,760
Cloudflare, Inc. (NYSE:NET) – $245.49
Internet of things
CloudFlare operates a cloud platform that delivers a range of network services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices. Its security products comprise cloud firewall, bot management, distributed denial of service, IoT, SSL/TLS, secure origin connection, and rate limiting products. The company also offers performance solutions, which include content delivery, intelligent routing, and mobile software development kit, as well as content, mobile, and image optimization solutions. In addition, it provides reliability solutions comprising load balancing, anycast network, virtual backbone, DNS, DNS resolver, and always online solutions that enhances Internet experience and allows customers to run their digital operations efficiently.
- Market Cap: $78.9B
- 30-Day Return: +47.8%
- YTD-Return: +159.6%
- 30-Day Average Trading Volume: 4,464,320
Unity Software Inc. (NYSE:U) – $189.12
3D Projection Solutions
Unity Software operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.
- Market Cap: $53.4B
- 30-Day Return: +16.6%
- YTD-Return: -1.0%
- 30-Day Average Trading Volume: 2,014,220
Autodesk, Inc. (NASDAQ:ADSK) – $403.87
3D Design Software
Autodesk provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization. Recently software developers have begun using its software to design and build virtual worlds for gaming and entertainment. Autodesk offers a suite of products designed to render 3D animation, construct and launch virtual buildings, and create within VR and augmented reality (AR) spaces.
- Market Cap: $88.8B
- 30-Day Return: +17.0%
- YTD-Return: +6.3%
- 30-Day Average Trading Volume: 955,170
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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