10 Best Virtual Reality Stocks To Buy Now

7. Unity Software Inc. (NYSE:U)

Number of Hedge Fund Holders: 34

Unity Software Inc. (NYSE:U) is the world’s leading platform for creating and operating interactive, real-time 3D (RT3D) content. Its products give content creators the tools to create innovative RT3D experiences and deliver better processes for almost every industry. It operates in more than 45 locations globally.

Unity’s platform offers a set of software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The firm has a profound role in the Virtual Reality space with more than 60% of top-grossing VR Steam experiences in 2023 made with Unity. Unity’s ecosystem of tools and services can help develop good VR experiences. More than 50% of week one Must Play Apple Arcade Games for Vision Pro as well as 2 out of 3 of the most popular Quest experiences were made with Unity. Similarly, over 70% of top-selling Quest games are made with Unity. Back in 2023, Unity’s stock soared after Apple announced that Unity’s gaming software would be used in Apple Vision Pro.

The overall market opportunity for Unity is vast. As mentioned by the CEO in the Q2 2024 Shareholder Letter, Unity has provided vital tools and technology to a mobile gaming market that is 22% larger than it was in 2019. Mobile gaming accounts for 60% of the roughly $130 billion of consumer app spending annually while 70% of the top mobile games globally are built on Unity.

The company has set the foundation for its next phase of growth with Unity 6 which has been designed to be the most stable and high-performing version of Unity the firm has ever shipped and empowers developers with faster rendering and lighting capabilities as well as deeper support for growing platforms like mobile web and spatial computing.

Since the firm allows developers to create immersive VR experiences, Unity Software Inc. (NYSE:U) is an attractive VR stock that will potentially benefit from the growing Virtual Reality market.