Apple stock went up because the company might make tools to help people make augmented reality apps for its upcoming headset.

Apple stock

Apple Stock (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) is developing software to assist customers in creating their own augmented-reality applications for its upcoming mixed-reality headgear.

The Information, citing sources who have worked on the headgear, stated that the software tools are intended for those who don’t know how to code and could use the technology to develop an app for them, employing Apple’s Siri speech assistant and other capabilities incorporated in the headset.

In contrast to competing products, Apple’s gadget is generally anticipated to have AR/VR functionality. Some headsets, such as those in the Quest series from Meta Platforms, rely only on virtual reality.

The media site demonstrated how the software could be used to create an app in which a herd of virtual animals roamed a room freely, all without the need for the developer to create custom animal models, code animations, or manually calculate the animals’ motions.

Fabric Software, a Canadian business Apple quietly bought in 2017, provided the tools, as the media source revealed.

Recent months have seen Apple ramp up the development of the mixed reality headgear, which might retail for as much as $3,000. In addition, the device’s operating system now goes by a different moniker.

Bloomberg reported earlier this week that in addition to working with partners like Walt Disney, Dolby Labs, and others, Apple stock is developing its own augmented reality content for the device.

In contrast to Apple’s other hardware products, Bloomberg reports that the company expects to lose money on the headset despite selling 1 million of them this year.

It is speculated that Apple has a cheaper, improved second-generation headset for release in 2024 or 2025.

Wedbush Securities has again picked Apple stock as its top tech stock for 2023. They did it this week, just before earnings season began.

Featured Image: Pexels @ Pixabay

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