Apple Inc AAPL is taking a different approach from other companies such as Facebook parent Meta Platforms Inc FB with respect to Metaverse — an immersive virtual world.
What Happened: Apple’s virtual reality (VR) and augmented reality (AR) headsets are meant to send users on short sojourns to the virtual world and are not intended for venturing into the Metaverse, according to sources of technology journalist Mark Gurman’s “Power On” newsletter, reported Apple Insider.
"I've been told pretty directly that the idea of a completely virtual world where users can escape to — like they can in Meta Platforms/Facebook's vision of the future — is off limits from Apple," wrote Gurman, according to Apple Insider.
See Also: How To Buy Apple (AAPL) Shares
Why It Matters: There is speculation that Apple could release a mixed-reality headset as early as this year.
Apple and Facebook clashing in 2022 could shape up to be a major technology story as both companies are trying to make waves in smartwatches and mixed reality headsets.
The price range for such a device is expected to range between $1,000 to $3,000. Gurman was reported earlier as having said that the device will have both “AR and VR capabilities.”
Meanwhile, an employee poaching war between Apple and Facebook has led to a windfall for the latter’s engineers in terms of bonuses.
Price Action: On Monday, Apple shares closed the regular session mostly unchanged at $172.19 and rose 0.4% in the after-hours trading.
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