15 Best Augmented Reality Stocks to Buy Now

Published on March 19, 2023 at 2:13 pm by Ramish Cheema in Hedge Funds, News

In this piece, we will take a look at the 15 best augmented reality stocks to buy now. For more stocks, head on over to 5 Best Augmented Reality Stocks to Buy Now.

Augmented reality is set to revolutionize the ways we interact with our surroundings. Most folks often confuse augmented reality with virtual reality, and for the sake of this piece, it’s better to first understand what both terms mean. Simply put, augmented reality is an ‘enhancement’ of reality itself in a virtual manner, while virtual reality ‘transports’ the user into an altogether different environment. In essence, while all augmented reality is virtual reality, the vice versa is false.

With that out of the way, let’s take a look at the many ways in which augmented reality is transforming businesses and by extension, the general consumer’s interaction with them. One such use case was applied in London’s Gatwick International Airport – one of the busiest airports in the country. This saw management place 2,000 beacons inside the airport’s two terminals, with the aim to allow passengers to navigate between entering the airport and boarding their flight. The beacons enabled travelers to identify their route and location within the airport and locate gates, desks, and other facilities.

Another remarkable use of augmented reality, this time in an industrial context, is the use of Google Glass by General Electric Company (NYSE:GE). While Google announced in March 2023 that it will stop selling the Google Glass Enterprise Edition and continue replacing damaged hardware until September, General Electric has already put the augmented reality product to great use. The firm, whose operations involve manufacturing precision components for machines such as Magnetic Resonance Imaging (MRI) equipment, reports that by using Google Glass and augmented reality, it was able to increase its order completion time by a whopping 46%. GE’s Healthcare division has also partnered with a medical technology company to develop the OmnifyXR Interventional Suite System. Through this, the firm aims to provide physicians with the remarkable opportunity to view a patient’s anatomy holographically by using Microsoft Corporation (NASDAQ:MSFT)’s HoloLens technology – which is also used in accessories for the firm’s Xbox gaming console.

In addition to manufacturing and navigation, augmented reality can also play a major role in revolutionizing marketing, according to Deloitte. Deloitte believes that augmented reality will allow for a greater connection between the advertisement agencies and their target audience, through better storytelling and a greater immersive experience. For these immersive stores, advertisers need to apply virtual reality thoughtfully, understand the story, do not force the brand into the story, and ensure that the customer is actually receptive to the content being delivered.

Finally, shifting back to the consumer end, another key industry that is also using augmented reality is the electronic commerce industry. McKinsey outlines that retail consumers in the UK, Germany, and France strongly resonate with augmented reality features offered by electronic commerce platforms which allow them to ‘test’ products before making a purchase.

All these, and many more use cases paint a bright picture for the augmented reality market. A research report from International Data Corporation (IDC) outlines a stunning compounded annual growth rate (CAGR) of 32.3% for the industry. IDC estimated in November 2022 that global AR/VR spending totaled $13.8 billion last year and will grow through the aforementioned CAGR until 2026 when it will sit at $50.9 billion. It adds that industrial uses and training applications will continue to be the strongest segments of the market, and will account for 44% of the total presence. It adds that the gaming segment will account for 25% of the total market. IDC also shares eye popping growth rates for the different industry segments, as it outlines that growth in emergency response applications will be double the rate of the overall market by marking an 82.9% growth rate. The U.S. will account for one third of the market, and China will grow at a 42.2% CAGR.

This high growth rate was also corroborated by the management of Vuzix Corporation (NASDAQ:VUZI), an American firm that makes and sells augmented and virtual reality devices. At a recent earnings call conference, management revealed that:

It bears repeating that the use of augmented reality by most business organizations and, ultimately, consumers remains the wave of the future. Despite the technical challenges encountered when making AR glasses and their uneven and unpredictable adoption curve seen to date, most entities around the world are realigning their future strategies around AR glasses with AI. The expected ubiquitous use of AI across applications in areas such as education, e-commerce, health care, communications, defense, security and more that hand the glove with AR smart glasses, examples like visual search, language translation, voice control, the list goes on and on.

This marriage of technology will accelerate the need and use cases for lightweight wearable displays. Vuzix is an AR smart glasses optics and display engine pioneer. The company was built from the ground up over the last 25 years to deliver on the larger promise of AR and, as such, is well positioned to participate in this emerging market.

Today, we’ll look at some top augmented reality companies, with the notable picks being Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Meta Platforms, Inc. (NASDAQ:META).

Photo by David Dvořáček on Unsplash

Our Methodology

We used Insider Monkey’s database of 943 hedge funds to choose companies that make and sell augmented reality products and are the most popular among hedge funds. Out of these, the top fifteen are listed here.

Best Augmented Reality Stocks to Buy Now

15. Sony Group Corporation (NYSE:SONY)

Number of Hedge Fund Investors in Q4 2022: 28

Sony Group Corporation (NYSE:SONY) is a Japanese firm that makes and sells consumer electronics products. It has a variety of interesting products for augmented reality, including headphones with auditory AR fields.

By the end of Q4 2022, 28 of the 943 hedge funds polled by Insider Monkey had bought Sony Group Corporation (NYSE:SONY)’s shares. The firm’s largest investor is Ken Fisher’s Fisher Asset Management which owns 5 million shares that are worth $384 million.

Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:META) are met by Sony Group Corporation (NYSE:SONY) in our list of top augmented reality stocks.

14. ANSYS, Inc. (NASDAQ:ANSS)

Number of Hedge Fund Investors in Q4 2022: 37

ANSYS, Inc. (NASDAQ:ANSS) provides several systems that enable others to design and build both augmented reality and virtual reality systems. The company is headquartered in Canonsburg, Pennsylvania.

Insider Monkey took a look at 943 hedge fund portfolios for last year’s fourth quarter and found out that 37 had bought a stake in the company. ANSYS, Inc. (NASDAQ:ANSS)’s largest investor in our database is Ian Simm’s Impax Asset Management which owns a $247 million stake.

13. Hewlett Packard Enterprise Company (NYSE:HPE)

Number of Hedge Fund Investors in Q4 2022: 37

Hewlett Packard Enterprise Company (NYSE:HPE) provides its HP Reveal platform allowing users to create animations, add overlays, and add sounds. It is based in Spring, Texas.

As of December 2022, 37 of the 943 hedge funds part of Insider Monkey’s survey had bought Hewlett Packard Enterprise Company (NYSE:HPE)’s shares. Richard S. Pzena’s Pzena Investment Management is the firm’s largest investor through owning 29 million shares worth $469 million.

12. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Investors in Q4 2022: 38

Snap Inc. (NYSE:SNAP) provides augmented reality experiences to its customers by allowing them to overlay products, create custom AR experiences for mobile devices, and distribute these experiences.

Insider Monkey took a look at 943 hedge fund portfolios for last year’s fourth quarter and found out that 38 had invested in the company. Snap Inc. (NYSE:SNAP)’s largest shareholder is D. E. Shaw’s D E Shaw through a $218 million stake.

11. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Investors in Q4 2022: 40

Baidu, Inc. (NASDAQ:BIDU)’s AR platform enables users to interact with virtual objects, and it was China’s third largest filer of AR and VR patents in 2020 and 2021 through 3,094 applications.

40 of the 943 hedge funds polled by Insider Monkey had bought Baidu, Inc. (NASDAQ:BIDU)’s shares during Q4 2022. John W. Rogers’ Ariel Investments is the company’s largest investor since it owns 2.8 million shares that are worth $326 million.

10. KLA Corporation (NASDAQ:KLAC)

Number of Hedge Fund Investors in Q4 2022: 44

KLA Corporation (NASDAQ:KLAC) develops augmented reality solutions for remote services allowing firms to conduct customer support. It also develops AR products for training purposes.

Insider Monkey dug through 943 hedge fund portfolios for last year’s fourth quarter and found out that 44 had invested in the firm. KLA Corporation (NASDAQ:KLAC) ‘s largest shareholder is Panayotis Takis Sparaggis’ Alkeon Capital Management which owns a $264 million stake.

9. PTC Inc. (NASDAQ:PTC)

Number of Hedge Fund Investors in Q4 2022: 44

PTC Inc. (NASDAQ:PTC) provides the Vuforia AR platform allowing firms to develop products for manufacturing, services, and sales.

44 of the 943 hedge funds part of Insider Monkey’s Q4 2022 study had bought PTC Inc. (NASDAQ:PTC)’s shares. Out of these, Robert Joseph Caruso’s Select Equity Group is the firm’s largest investor. It owns 3.5 million shares that are worth $420 million.

8. Splunk Inc. (NASDAQ:SPLK)

Number of Hedge Fund Investors in Q4 2022: 52

Splunk Inc. (NASDAQ:SPLK) lets users use augmented reality to collaborate remotely by using on site footage to virtually diagnose issues and make decisions.

As of December 2022, 52 of the 943 hedge funds surveyed by Insider Monkey had invested in the company. Splunk Inc. (NASDAQ:SPLK)’s largest hedge fund shareholder is Alex Sacerdote’s Whale Rock Capital Management which owns a $217 million stake.

7. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Investors in Q4 2022: 82

QUALCOMM Incorporated (NASDAQ:QCOM) designs and sells graphics processing units (GPUs) that power AR devices, and a reference Snapdragon XR2 platform for AR glasses.

Insider Monkey dug through 943 hedge fund portfolios for last year’s fourth quarter and found out that 82 had bought a stake in QUALCOMM Incorporated (NASDAQ:QCOM). David Goel and Paul Ferri’s Matrix Capital Management is the company’s largest shareholder since it owns 3.3 million shares that are worth $366 million.

6. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Investors in Q4 2022: 97

Advanced Micro Devices, Inc. (NASDAQ:AMD) has partnered up with a startup to develop a custom processor for AR solutions. It also provides the LiquidVR platform for virtual reality applications.

97 of the 943 hedge funds surveyed by Insider Monkey had bought the firm’s shares during Q4 2022. Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor is Ken Fisher’s Fisher Asset Management which owns a $1.6 billion stake.

Click to continue reading and see 5 Best Augmented Reality Stocks to Buy Now.

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Published on November 16, 2024 at by Insider Monkey Staff

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