There is a growing proliferation of Augmented Reality across the world and many tech companies believe that AR, which digitally enhances real-world surroundings, is the next big computing platform.
The importance of AR has already been realized by many businesses in the COVID-19-hit world which has created a niche for virtual working and learning environments.
This article compares the two AR stocks- Autodesk, Inc and Snap Inc to help you with the best AR stock to buy.
Autodesk, Inc. is one of the best-augmented reality stocks to invest in as the company is actively working on expanding its current suite of products.
On March 24, Autodesk, Inc. announced its plans to acquire The Wild, an extended reality platform.
The Wild offers architecture, engineering, and construction professionals to remotely present, collaborate and review projects in immersive virtual and augmented reality experiences.
With this acquisition, Autodesk, Inc. will be able to meet demands for augmented reality and virtual reality technology advancements within the architectural engineering industry.
Its current AR stock is US$193.77, a 2.33% decrease from the previous close.
Snap Inc. is best known for its camera application Snapchat which is one of the most widely used social media applications in the world.
As of 2022, Snapchat has over 293 million daily active users who transact over 4 billion snaps per day.
Among the company’s AR products we also have Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective.
Its current AR stock is US$24.92, an 8.62% decrease from the previous close.
This February, Citi analyst Tyler Radke reinstated coverage of Autodesk, Inc. with a Buy rating and a $305 price target.
The analyst is confident about the company’s growth potential over the next three years and maintains a “compelling” outlook on the stock.
On the other hand, this March, Snap Inc. announced that it has acquired NextMind, a Paris-based neurotech company.
NextMind will be working with Snap Inc. to advance long-term augmented reality research efforts within Snap Lab,
Which is Snap Inc.’s hardware team focused on building cutting-edge devices for the company’s augmented reality platform.