Dividend Stocks

3 Augmented Reality Stocks That Will One Day Mint Millionaires

Augmented reality stocks are rising, revealing a wealth of growth opportunities. Major companies are diving headfirst, unveiling AR/VR headsets and acquiring digital assets, a clear signal of their confidence in AR’s future. This dynamic sets the stage for investors, highlighting AR stocks as necessary in a forward-looking portfolio.

Moreover, experts anticipate a striking 50% compound annual growth rate in the AR sector from 2023 to 2030. The market could reach a jaw-dropping $1109 billion by the decade’s end. This forecast presents an unmissable opportunity for tech enterprises and investors alike.

Beyond the tech giants, a diverse range of players is emerging, offering unique investment opportunities within the AR sphere. This variety ensures that investors have access to a broad spectrum of choices, from industry leaders to innovative newcomers, each shaping the future of AR.

With that in mind, let’s explore three AR stocks poised for meteoric growth, unlocking the potential for substantial returns.

NexTech AR Solutions (NEXCF)

man holding digital tablet with AR interior design software chooses 3D furniture for home

Source: Gorodenkoff / Shutterstock

NexTech AR Solutions (OTCMKTS:NEXCF) is making waves in the AR market. Currently, it stands out for its innovative fusion of 3D and AR technologies, enhanced by artificial intelligence. This synergy, especially relevant in e-commerce marketing and events, positions NexTech as a dynamic player in the AR space.

Moreover, its recent financials further cement this status, showing a significant 156.4% year-over-year revenue increase to $1.41 million, overshadowing a 2-cent miss in GAAP earnings per share. Strategically, NexTech acts as a nurturing parent company, developing or acquiring firms and then spinning them out while retaining control. This approach has already borne fruit with two AR-focused subsidiaries, ARway.ai (OTCMKTS:ARWYF) and Toggle3D.ai (OTCMKTS:TGGLF), exemplifying NexTech’s commitment to expanding its AR footprint.

Furthermore, NexTech’s delivery of over 50,000 3D models to clients underscores its rapid growth trajectory. This achievement reflects the company’s technical prowess and rising prominence in the ever-evolving AR landscape.

Alphabet (GOOG, GOOGL)

GOOG stock: letters spelling out google

Source: rvlsoft / Shutterstock.com

After facing a challenging 2022, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) surged 54% this year. This rebound is largely credited to its expansive Google ecosystem, which remains pivotal across various sectors. Additionally, Alphabet’s growing emphasis on AR technology further cements its status as a leading stock in this innovative field.

Google’s AR platform is a prime example of this dedication, seamlessly merging digital content with real-world environments. This cutting-edge technology elevates everyday experiences, proving particularly useful in situations like exploring new areas or obtaining information on the move.

Furthermore, it reported GAAP earnings per share of $1.55 in the third quarter, surpassing expectations by 10 cents, and a notable 11.1% year-over-year revenue growth to an astounding $76.79 billion, exceeding forecasts by $980 million. These robust figures and TipRanks analysts’ strong buy rating and a projected 13% upside potential highlight the market’s confidence in Alphabet’s strategic direction and technological impact.

Nintendo (NTDOY, NTDOF)

A yellow Switch Lite from Nintendo (NTDOY) sits in front of a bright pink background.

Source: ESOlex / Shutterstock.com

Nintendo (OTCMKTS:NTDOY, OTCMKTS:NTDOF), a leader in the video game console market, stands out for its dedication to family-friendly entertainment. This strategic choice has allowed Nintendo to maintain its popularity across a broad spectrum of ages. It’s a delicate balance of preserving traditional gaming values while remaining a favorite among diverse gaming demographics.

Moreover, Nintendo’s 2021 partnership with AR specialist Niantic further underscores this strategic direction. This collaboration focuses on creating applications that merge Niantic’s advanced AR technology with Nintendo’s beloved and iconic characters.

Furthermore, the most exciting and yet-to-be-confirmed buzz around Nintendo involves a potential collaboration with Google to develop an advanced virtual reality gaming headset. If this speculation holds, it’s a game-changer. This partnership could mark a significant leap forward in the gaming industry, attracting new investors and customers interested in the evolving VR and AR spaces.

The variances between NTDOY and NTDOF are subtle yet significant, and it’s essential to research both before diligently investing.

On the date of publication, Muslim Farooque 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.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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