The augmented reality (AR) industry continues to project strong growth in the coming years. In turn, investors continue to look at mixed reality stocks in companies that blend the digital and physical worlds.

Again, growth is forecast. Thus, projections start near 14% for AR and virtual reality (VR) between 2023 and 2027 at the global level. Projections range as high as 50% for the period between 2023 and 2030. However, most predictions seem to settle between 30 to 35% compound annual growth (CAG).

Let’s take a look at the stocks and companies that will expose investors to that growth and those projected returns moving forward.

Meta Platforms (META)

Meta Platforms (NASDAQ:META) adopted a more metaverse forward approach than any other Silicon Valley firm. 

The company is broadly focused on AR innovation, mixed reality headsets, AR development platforms, and an apps and game store with mixed reality offerings. 

META continues to invest heavily into its Reality Labs business segment. Incidentally, it continues to lose a lot of money on that investment. For example, during the first nine months of 2023, Reality Labs accounted for an $11.47 billion loss overall. That was more than $2 billion greater than the same period a year earlier.

Although those losses may cause some concern, they aren’t a primary driver of the stocks value. Despite its rebrand, Meta Platforms is and will continue to be driven by Facebook and its family of apps. The provided advertising revenue is the engine of the company.

Fortunately, marketing revenues have strengthened during the same period. So, investors should consider buying META since it will rise as the macroeconomic picture improves. Further, its Reality Labs division, while continuing to lose money, also offers strong future growth revenue potential.

Apple (AAPL)

Apple (NASDAQ:AAPL) will enter the augmented reality space through its App Store. Its Vision Pro headset’s release is expected early 2024, the company’s first product release in more than a decade. It promises potential to positively impact its stock.

The company announced the Vision Pro back in June, and they are releasing more product information, particularly about the user interface. 

Apple continues to refine the VisionOS Beta release via a series of recent instructional videos, which onboard new users. Early reactions have been well received by users who have enrolled their Persona through VisionOS Beta.

Investors shouldn’t expect the Vision Pro to affect Apple’s bottom line in 2024. Early 2024 projections suggest that the company expects to sell fewer than 400,000, which cost $3,499. A few billion dollars over the course of a year is simply a drop in the bucket to Apple.

Rather, investors should pay attention to early reactions of users who have access to Beta releases of the technology. Positive reception will go a long way toward convincing investors that Apple is on the right track with its Vision Pro.  

Qualcomm (QCOM)

Qualcomm (NASDAQ:QCOM) is a better known semiconductor firms which is leaning heavily into AR. Also, its stock is a relatively reliable choice overall for those interested in the chip manufacturing space. QCOM shares include a dividend which makes it somewhat unique.

The company is well known for its Snapdragon chips used in its AR products. Its Snapdragon XR2 platform underpins the development of AR. Qualcomm is developing AR glasses as well as multiple systems on chips (SoCs) for headsets and glasses.

Qualcomm may well become the best choice among chip producers in the AR space, especially as a leader in chip supply for standalone VR headsets.

Further, QCOM remains an interesting choice among semiconductor stocks. It offers a dividend yield of 2.48%, considered relatively high in comparison to other large tech firms. Thus, investors looking for income and exposure to AR will be hard-pressed to find a better stock than Qualcomm.

On the date of publication, Alex Sirois did not have (either 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.