With the burgeoning AI boom taking over Wall Street, the information technology sector has seen a plethora of investments go toward similar projects. Yet, there is always the quest to find the next big thing and what could become the next cloud-based computing technology that drives investment interest. Apple (APPL) is looking to take on Meta as the company explores one such expansion into a brand new avenue.
Both companies have sought to increase their respective footprints in various technology fields. That reality has only driven their success throughout 2024. With Apple looking to become the first company to reach a $4 trillion market cap and fend off Nvidia (NVDA), it could be set to make a major splash in the coming years.
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In August 2018, Apple became the first company to reach a $1 trillion market cap. They weren’t done there. They followed it up with being the first to reach $2 trillion and $3 trillion in 2020 and 2023, respectively. With companies exploding in value throughout the last year, it may be harder than ever to set the market cap record for a fourth straight time.
However, they could be eyeing a new product line to do it. Indeed, Apple is reportedly looking to take on Meta with one key expansion. Specifically, a Bloomberg report suggests that the firm could be set to launch their very own smart glasses, based on a new internal study.
Also Read: Nvidia (NVDA) Near Miss: Falls Just Short of Market-Cap Crown
The exploration into augmented reality and wearable technology has been a key focus of Meta. Earlier this year, Zuckerberg debuted the company’s Orion glasses at an event. There were also concerns, especially given the CEO’s history with the MEtaverse and expanding to new technological sectors.
Yet, Apple getting in on the competition could be massive for the industry. The company has revolutionized nearly every tech item to debut in the last decades. It is a key reason for its success. After debuting its first batch of AI tools, it could be set to expand its product line. They could soon feature iPhones, Apple Watches, and a new Orion competitor.
