Potentially the Top Two Metaverse Stocks to Watch in 2024 – London Business News

Over the past few years, there has been a surge in new technologies that have the potential to propel humanity forward.

While Artificial Intelligence (AI) often takes the spotlight, there are other technologies, like the Metaverse, that hold great promise but are not as widely publicized.

The Metaverse industry is rapidly expanding and offers immense potential to transform human experiences. Companies like Autodesk and Qualcomm are at the forefront of this revolution. Autodesk is a global leader in 3D software, catering to diverse industries such as architecture, engineering, entertainment, and education. On the other hand, Qualcomm specializes in designing semiconductors and wireless communication products, including the popular Snapdragon chip.

As we enter the second half of the year, investing in metaverse stocks could lead to substantial returns for investors. Analysts predict that the metaverse market could reach $803.1 billion in the coming years, making it one of the most lucrative industries globally. Joel Lim, a trading analyst at Tradequotex.com, has pinpointed two top metaverse stocks for July.

Autodesk

Autodesk is an American software company known for developing software products for various professions such as architects, builders, engineers, designers, manufacturers, and 3D artists. The company, headquartered in San Francisco, California, has a global presence.

This year, Autodesk has focused on expansion, exemplified by its acquisition of Wonder Dynamics, an AI-powered 3D cloud animation and VFX solutions provider. This move aims to enhance user experience on Autodesk platforms by streamlining workflows and fostering creativity.

Joel Lim highlights, “Apart from its expansion efforts, Autodesk is a highly profitable player in the metaverse. In its latest quarterly report, the company reported significant growth in key metrics, including a 12% increase in total revenue to $1.42 billion.”

Qualcomm

Qualcomm, based in San Diego, California, is a technology company that focuses on designing semiconductors, software, and wireless communication products. One of its flagship products is Snapdragon, a microchip commonly used in mobile devices.

< p>Through its partnership with Meta Platforms, Qualcomm continues to contribute to the advancement of AI and metaverse industries. For instance, the collaboration has led to the optimization of Meta’s Llama 3 Large Language Models across Qualcomm’s Snapdragon platform, spanning devices like cell phones, VR/AR headsets, and PCs.

Furthermore, Qualcomm is nearing completion of its new “XR2 gen 3” VR GPU Chips, a top-of-the-line chip capable of 4k resolution that is rumored to rival the Apple Vision Pro.

Financially, Qualcomm is performing well, with its latest quarterly report showing impressive numbers across key metrics, including total revenue of $9.4 billion.

Joel Lim comments, “Qualcomm is well-positioned to seize opportunities in the metaverse market through partnerships with tech giants like Meta and the upcoming release of powerful VR microchips.”