3 Hot Metaverse Stocks To Watch Right Now
Top Metaverse Stocks To Watch This Week
- Meta Platforms Inc. (NASDAQ: FB)
- Nvidia Corporation (NASDAQ: NVDA)
- Autodesk Inc. (NASDAQ: ADSK)
Meta Platforms Inc.
First up, we have Meta Platforms, a metaverse company that is the parent organization of Facebook, Instagram, and WhatsApp. The company has recently changed its name to Meta to bring together all its applications and technologies under one new company brand. It will now primarily focus on bringing the metaverse to life and helping people connect, find communities, and grow businesses. Yesterday, the company announced that it plans to expand advertising options for crypto, making it easier for companies to run advertisements promoting cryptocurrencies on its social media platforms.
Nvidia Corporation Inc.
Next, we have Nvidia Corporation, a tech company. Its graphics processing units are used for gaming and professional markets. Its professional line of GPUs is used in workstations for applications like architecture, engineering, and automotive, among others. The company is also in the mobile computing market, where it produces its Tegra mobile processors for smartphones and tablets as well as entertainment systems. Recently, Nvidia said that its RTX 2060 12 GB graphics card will be coming to stores to quell shortages, starting on December 7, 2021. NVDA stock is up by over 120% in the past year alone.
The company’s version of the metaverse, called the Omniverse, will be a platform for connecting 3D worlds into a shared virtual universe. The company says that its Omniverse platform is in use across a growing number of industries for projects such as design collaboration and creating “digital twins”, simulations of real-world buildings and factories.
Another name to consider in the metaverse space now would be Autodesk. In general, it is a software company that caters to the architecture, engineering, and construction industries. Now, the real focus is what Autodesk’s software can do. The company is mostly known for its industry-leading AutoCAD software. Without going into too many details, AutoCAD is a commercial computer-aided design and drafting software application. In practice, AutoCAD helps with the virtual design process, allowing users to generate buildings, infrastructure, and more digitally. With Autodesk literally providing the building tools of the metaverse, ADSK stock could be worth watching.
Despite all of this, the company’s shares appear to be in a slump this year. This would be due to the company’s less-than-ideal guidance figures. However, Autodesk still reported solid figures in its latest quarterly earnings report last week. For starters, the company posted an earnings per share of $1.33, topping consensus estimates of $1.26. Moreover, Autodesk raked in a total revenue of $1.13 billion, posting a sizable 18% year-over-year increase.