2 Best Metaverse Stocks In 2024

(MENAFN- Investor Ideas) Over the last few years, several new technologies that could advance humankind have sprung up. An obvious example is Artificial Intelligence (AI), but there are others that don't have as much hype but are just as profitable. The Metaverse is one of them.

• The Metaverse industry is one of the fastest-growing industries in the world, and it has massive potential thanks to its ability to reshape human experiences.
• Autodesk is a global leader in the 3D software space. Its products cater to several industries, from architecture and engineering to entertainment and education.
• Qualcomm specializes in designing and manufacturing semiconductors and wireless telecommunication products. The popular Snapdragon chip is one of its products.

As we begin the second half of the year, investing in metaverse stocks could yield massive rewards for investors. Analysts are reporting that the metaverse market size could grow to $803.1 billion over the next few years, making it one of the most profitable industries in the world. Joel Lim, a trading analyst at Tradequotex , has identified two of the best metaverse stocks to invest in this July.

Autodesk

Autodesk is an American software company that specializes in developing and distributing software products for a wide range of professions, including architects, builders, engineers, designers, manufacturers, and 3D artists. The company is based in San Francisco, California, but has offices worldwide.

This year, Autodesk has been busy with expansion plans, evidenced by its recent purchase of Wonder Dynamics, an AI-powered 3D cloud animation and VFX solutions manufacturer. With this purchase, Autodesk aims to reduce users' workload on its platforms, vastly improving the experience and allowing users to unleash more creativity.

Joel Lim notes, "Expansion aside, Autodesk is one of the most profitable companies in the metaverse. According to its latest quarterly report, the company saw massive increases in key metrics, such as total revenue, which increased by 12% to $1.42 billion."

Qualcomm

Qualcomm is an American technology company based in San Diego, California. It specializes in designing and manufacturing semiconductors, software, and wireless telecommunications products. A popular example of one of Qualcomm's products is Snapdragon, a mobile device microchip.

Thanks to its partnership with technological giant Meta Platforms, Qualcomm continues to contribute greatly to the growth and development of the AI and metaverse industries. A great example of the result of this partnership is the optimization of Meta's Llama 3 Large Language Models on all the devices on Qualcomm's Snapdragon platform, which includes cell phones, VR/AR headsets, and PCs.

Furthermore, Qualcomm is putting the finishing touches on its new "XR2 gen 3" VR GPU Chips, a flagship chip with 4k resolution capabilities that is rumoured to rival the Apple Vision Pro.

The company isn't doing too poorly on the financial front, either. According to its latest quarterly report, it recorded impressive numbers across key metrics like total revenue, generating an impressive $9.4 billion.

Joel Lim notes, "Qualcomm is in a great position to capture the metaverse market thanks to partnerships with tech giants like Meta and an upcoming line of powerful VR microchips."

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