In the tech frontier, the metaverse stands out. It emerges as a beacon of opportunity. Whispered in investor circles, it is an intriguing idea. There are metaverse stocks to make you rich waiting to be uncovered. We’re at the dawn of this digital transformation. The allure of the metaverse isn’t just its futuristic appeal. It also lies in tangible investment returns. This has led to the rise of metaverse stocks to make you rich.
Yet, the true challenge is pinpointing the stocks with the most promise. Fear not, dear investor. Today, we have a treat for you. We’ll unveil three metaverse champions. They defy market odds. Moreover, they shine as potential wealth multipliers. So, if our headline piques your interest, read on. We’re setting out on a journey.
So here are the metaverse stocks to make you rich.
Roblox (RBLX)
In a twist that could give potential investors a dramatic pause, Roblox’s (NYSE:RBLX) share price took a theatrical tumble, plunging a staggering 38% in the last half year. Yet, like a phoenix rising, Roblox showcased its resilience in its Q2 2023 reveal. The company not only sported a 15% YoY revenue surge but also hit the golden mark of a whopping $680.8 million.
While the curtain may have momentarily dropped on its share price, the spotlight remains firmly on Roblox’s intrinsic growth story. With a three-year revenue crescendo that sings to the tune of a remarkable 57%, one can’t help but applaud. So, to the savvy investor with an eye for a performance that belies the superficial drama, Roblox’s act is far from over. Encore!
Moving on from the numbers, the metaverse has garnered significant attention, with many pundits coining terms like “metaverse stocks to make you rich.” While Roblox’s valuation raised eyebrows, prompting some to claim it’s stretched for its offerings, it’s hard to deny the strategic moves the company is making. Recently, Roblox advanced its metaverse vision by integrating animated chats, a step that aligns with the company’s ambition to augment its virtual realm.
Furthermore, partnerships with giants like Walmart (NYSE:WMT) emphasize its potential, with the retailer tapping into Roblox’s platform to showcase top toys. Additionally, the company’s foray into virtual reality through its launch of Meta Quest VR headsets showcases its dedication to expanding its metaverse footprint.
In conclusion, while the past half-year might suggest a waning interest, Roblox’s strategic enhancements and partnerships hint at a promising future. Investors should look beyond the immediate numbers and consider the broader trajectory and potential of Roblox in the ever-evolving metaverse landscape.
Qualcomm (QCOM)
Amid the tempestuous flurry of metaverse equities promising untold wealth, Qualcomm (NASDAQ:QCOM) rises, a beacon of resilience and foresight. The company, navigating the volatile economic tides, has made judicious strides, poised to chart an audacious path into tomorrow.
Recent market winds have tested its resolve. In the past half-year, its share price has witnessed an ebb of nearly 11%. The recent quarterly annals tell of revenue of $8.45 billion, a decline of 22.7% year-on-year.
However, in this theater where financial constellations often wane, Qualcomm shines bright. Against the backdrop of prevailing financial turbulence, it not only weathered the storm but exceeded market auguries, registering an EPS surprise of 3.4%.
Indeed, the Qualcomm saga, illustrious and compelling, marches onward.
Moreover, Qualcomm’s recent announcements hint at the company’s steadfast commitment to evolving technologies. A notable development includes the renewal of its deal with Apple (NASDAQ:AAPL). There are also significant strides in the automobile sector. As if to quell any concerns regarding its growth prospects, Qualcomm unveiled its Wi-Fi 7 platform. It has also set its sights on the broadband carrier market. The company’s $100 million Snapdragon Metaverse Fund showcases its dedication. This fund is aimed at powering the metaverse, a space that’s gaining immense traction and revolutionizing Extended Reality.
Qualcomm’s resilience is evident from its recent forays into AI, strengthening the bull case. Amid a sea of varied opinions, some assert a golden buying opportunity while others take a more cautious approach. However, one thing remains clear: Qualcomm is not merely observing the future; it is actively shaping it. So, while Wall Street debates the trajectory of semiconductors and tech giants like Meta unveil their latest offerings, Qualcomm is ensuring its prominent role in the conversation.
Matterport (MTTR)
While many have been fervently scouting for the next big “metaverse stocks to make you rich,” Matterport’s (NASDAQ:MTTR) spotlight shines even brighter, not just for its immersive 3D imaging capabilities in the real estate domain but for its speculated role in the metaverse’s horizon. Partnerships with Equinox Technologies in the Middle East and Africa, as well as a collaborative effort with CompuSoluciones for digital twin adoption in Latin America, demonstrate Matterport’s ambitious global stride. But how does this align with its recent financial performance?
For the second quarter of 2023, Matterport recorded a revenue surge of approximately 39%. A noteworthy growth, though shadowed by a net income slide and a staggering net profit margin decline to -143%. However, it’s essential to discern the backdrop of these numbers. Matterport, in a decisive move, is eliminating about 170 roles, or 30% of its workforce, a strategic play to hasten its journey toward profitability.
Moreover, despite the evident challenges, Matterport surpassed both Q2 top and bottom line estimates and displayed confidence by raising its full-year 2023 EPS outlook. As the metaverse evolves and industries intertwine in ways once deemed futuristic, Matterport’s positioning as more than just a real estate VR company may be the ace up its sleeve.
On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
