![]() The metaverse does not refer to a single technology but it may be supported by a combination of all these innovations or permutations of a subset. Much like the early days of the Internet, though, the exact shape and form of metaverse is still emerging and evolving. The term "metaverse" is often used synonymously with "gaming," "eSports," "web3," "Augmented Reality (AR)", "Virtual Reality (VR)," "cryptocurrency," "blockchain," "non-fungible tokens" ("NFTs") and other technological innovations. ![]() The term has evolved beyond Neal Stephenson's vision in Snow Crash. One of the most fundamental challenges in discussions about the metaverse is definitional. 4 McKinsey estimates that the metaverse could be worth $4-5 trillion by 2030. 3 Statista projects the revenue in the metaverse market to reach 17.48 billion in 2023. Apple is set to release a mixed reality headset in June 2023. Facebook famously changed its name to Meta to reflect its strategic pivot and expansion into this space. As of February 2023, Roblox has a market cap of $26 billion and nearly 60 million daily active users. 2 One of the most notable metaverse companies, Roblox, filed for its Initial Public Offering (IPO) in October 2020. 1 In 2021, Bloomberg catalogued more than one thousand stories containing the term "metaverse," while there had only been seven in all of 2010s. Three decades later, the metaverse is no longer only fictional.Ībout 25% of American adults under 40 own a virtual reality headset. In it he depicts a virtual reality-based successor to the Internet, where people use digital avatars of themselves to escape a dystopian reality in the online world. The term "metaverse" was coined by Neal Stephenson in his 1992 science fiction novel Snow Crash. Download the Report (including Appendix). ![]() Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. Alternatively, email Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. Have feedback on this article? Concerned about the content? Get in touch with us directly. Improving the quality of something existing is harder than increasing the number of services/features, partly because it implies admitting to mistakes made from management. While PayPal was the hallmark of payment processing, competitors are actively developing technologies that take current and future market share from the company, this tilts the balance of risk for the company's future. It is now up to management to improve the service and attract new or lost customers in order to secure future growth. While analysts have revised their forecasts for PayPal, the company seems to be fairly valued on a relative free cash flow basis. Keep in mind that this is the value of the stock Today, and may shift as forecasts and riskfree rates change. If we want, we can even take it a step further: by assuming maturity, a low future growth, we can compute a value for the company as Next year's free cash flows / (Mature Cost of Capital - Riskfree Rate)Ĭalculation: US$6.5 / (0.0745 - 0.027) = US$136.84b
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