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Top Stocks To Buy Now? 3 Metaverse Stocks To Check Out

Could investors benefit from watching these three metaverse stocks as the industry continues to gain momentum?

top stocks to buy now (metaverse stocks)

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?

Source: TD Ameritrade TOS

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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?

Source: TD Ameritrade TOS

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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?

Source: TD Ameritrade TOS

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By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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