We See a Lot of Potential in the Metaverse and its Interesting to Us, Says CEO, Apple

During Q1 2022 earnings call with investors, Apple Chief Executive Officer, Tim Cook, indicated that the company 'sees a lot of potential in the space.'

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It seems like every other day, a big tech company is coming out in support of a future in which the metaverse is a big part. The latest of such organizations is the biggest one of them all, Apple.

During Q1 2022 earnings call with investors, Apple Chief Executive Officer, Tim Cook, indicated that the company ‘sees a lot of potential in the space.’

Cook’s statement came after a question that was posed to him by one of the investors concerning Apple’s Arkit framework for developing AR applications. Here was the long response:

“Well that’s a big question. We’re a company that’s in the business of innovation. We’re always exploring new and emerging technologies and this is an area that is very interesting to us. We have 14,000 ARKit apps on the App Store, which provide incredible AR experiences for millions of people today.

We see a lot of potential in this space and are investing accordingly.”

– CEO, Apple

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Cook further revealed that the company’s research and design department is always keeping tabs on the latest technologies and ideas even those that are not in the market:

We look at areas that are at the intersection of hardware, software, and services because we think that’s where the magic really happens. There are areas that have more than piqued our interest and we are investing in those. You can tell that we’ve ramped our R&D spend even more than we were before.

There’s quite a bit of investment going into things that aren’t in the market at this point. “

– CEO, Apple

Apple is reportedly planning to launch an AR/VR headset in 2022.

While the company is cagey about referring to these plans as metaverse, competing tech companies such as Facebook are pursuing the same products under the metaverse moniker.

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RECOMMENDED READING: What is the Metaverse and Why Should You Care?

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