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Facebook has recently changed their name to Meta and is investing tons of money into what they call web 3 which is the metaverse. The name Meta has gotten a fair deal of criticism but the metaverse itself should be something that makes investors curious. Meta is currently the leader in virtual reality through their company Oculus and Virtual Reality (VR) is a growing market. Meta's CEO, Mark Zuckerberg, believes that VR will be the next big thing, and he is investing a lot of the company's money into making sure they continue to lead in the industry.
If one agrees with Zuckerberg that VR will become the next big thing, then Meta certainly looks like a buying opportunity. At time of writing, Meta currently has a market cap of slightly under 1 trillion dollars, and many investors believe that Meta is undervalued as a company even without the metaverse being a factor. If one agrees that Meta as a business is already undervalued and that the metaverse will be the next big thing, then it is very hard to believe that Meta is not a company that one should own.
While there are other companies that are getting into VR like, for instance, Apple, Meta has a pretty big lead over everyone. Also, Meta is targeting the average consumer and is making VR headsets affordable which is a large potential market. This seems to mean that Meta currently has the most revenue potential in the field.
Virtual Reality is a tough business historically. Samsung was one of the first companies to enter the field, and it looks like they have left it as sales of their headsets were not enough for the company to invest more money. VR bulls believe that virtual reality will take a while to develop and reach the average consumer but that it will happen.
In conclusion, Facebook's change to Meta should be very bullish news to anyone that believes that VR and the metaverse as a whole will be the next big thing and that their other revenue sources will continue to grow as well.