Are These The Top Metaverse Stocks To Buy Now?

It’s no surprise that one of the hottest sectors of technology over the past few years has been the metaverse. As a result, stock market investors have started to pay more attention to metaverse stocks. In fact, according to a report by big four consulting firm McKinsey & Co., the metaverse industry could be worth approximately $5 trillion by 2030.

Also in the report, McKinsey & Co. reported that about 59% of consumers are excited about how this technology could enhance our experiences in the virtual world. What’s more, a large number of tech companies are developing and commercializing the metaverse. You may be asking what is the metaverse? Keep reading to find out.

What Is The Metaverse?

In brief, the Metaverse is a term used to describe the virtual world, which is a fictional, digital environment that exists online. Metaverse is usually imagined as a giant, three-dimensional space where people can meet and interact with each other, regardless of their physical location. Metaverse can be used for socializing, gaming, or even business meetings and conferences.

The Metaverse is constantly expanding and evolving, as new virtual worlds are created and old ones are modified. As the Metaverse continues to grow, it will likely become an increasingly important part of our lives. If this has you keen on investing in the future of the metaverse, here are three top metaverse stocks to watch in the stock market now.

Top Metaverse Stocks To Buy [Or Avoid] Now

Meta Platforms (META Stock)

Kicking off this list is Meta Platforms Inc. (META). Most notably, Meta Platforms is the parent company of the social media platform Facebook. For the unitiated, Meta Platforms builds technologies that enable people to find communities and grow businesses. In detail, the company operates through two business operation segments, Family of Apps (FoA) and Reality Labs (RL). Family of Apps incldues platforms like Facebook, Instagram, Messenger, WhatsApp, among others. While, Reality Labs includes augmented and virtual reality-related consumer hardware, software, and content. Most notably, would be the company’s popular Oculus VR headset. Given all the buzz around the Metaverse, and the company’s current market valuation it’s not surprising that investors are starting pay close attention META stock now.

Just back in July, Meta Platforms announced its Q2 2022 fiscal results. In detail, the company reported a miss versus analysts’ consesnus estimates on earnings and revenue. Diving in, META reported earnings of $2.46 per share, along with revenue of $28.8 billion. This is versus, consensus earnings estimates of $2.50 per share, and revenue of $28.9 billion. Meanwhile, this was the first time in company history they reported a decline in revenue.

With that, shares of META are currently still down over 53% year-to-date and are currently trading at $158.54 per share as of Tuesday’s closing bell. With this in mind, do you think META stock is a buy at these levels?

Meta Facebook stock
Source: TD Ameritrade TOS

[Read More] What Stocks To Buy Today? 4 Oil Stocks To Watch

Microsoft Corporation (MSFT Stock)

Next, Microsoft Corporation (MSFT) is an American multinational technology company with headquarters in Redmond, Washington. In brief, the company develops, manufactures, licenses supports, and sells computer software, consumer electronics, personal computers, and related services. Microsoft is best known for its products and services like, Microsoft Windows, Microsoft Office suite, Internet Explorer and Edge web browsers. Currently, the company has an annual dividend yield of 0.98%.

Also in July, Microsoft reported its 4th quarter 2022 financial results. In the report, Microsoft reported earnings of $2.23 per share. In addition, the company posted revenue of $51.9 billion for the quarter. This is versus, wall street consensus estimates of earnings of $2.28 per share, on revenue of $52.9 billion.

In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform. Commercial bookings grew 25% and Microsoft Cloud revenue was $25 billion, up 28% year over year,” stated Amy Hood, executive vice president, and CFO of Microsoft. With that, shares of MSFT stock are still down over 24% year-to-date. As of Tuesday’s closing bell, shares of MSFT stock are trading at $253.25 per share. With that, will you be watching Microsoft stock this week?

Microsoft stocks
Source: TD Ameritrade TOS

[Read More] Cheap Stocks To Buy Now? 3 Marijuana Stocks To Watch

Autodesk (ADSK Stock)

Lastly, Autodesk (ADSK) is a multinational corporation that specializes in 3D design, engineering, and entertainment software. What’s more, the company’s product development and manufacturing software provide manufacturers in the automotive, transportation, industrial machinery, and building product industries. As a result, Autdodesk could be poised to capitalize on the future of the metaverse industry.

Last month, the company posted its financial results for the second quarter financial resutls. Diving right in, Autodesk reported second quarter earnings per share of $1.69, and revenue of $1.2 billion. This beat earnings estimates of $1.57 per share, and revenue was in line at $1.2 billion. In addition, the company reported a 16.7% increase in revenue during the same period, a year prior. Aside from the, Autodesk said it estimates Q3 2022 non-GAAP earnings per share of $1.66 to $1.72. Meanwhile, they announced they expect revenue to come in between $1.275 billion to $1.29 billion. Given the strong quarter, should you add ADSK stock to your watchlist right now?

ADSK stock chart
Source: TD Ameritrade TOS

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!


Sign up for our FREE Newsletter and get:

  • Stock Alerts And Ideas
  • Learn to Trade Stocks & Options
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@stockmarket.com


Sign up for our FREE Newsletter and get:

  • Stock Alerts And Ideas
  • Learn to Trade Stocks & Options
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@stockmarket.com

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
You May Also Like