10 Best Augmented Reality Stocks Under $5 - InvestingChannel

10 Best Augmented Reality Stocks Under $5

In this article, we discuss 10 best augmented reality stocks under $5. If you want to skip our detailed discussion on the augmented reality industry, head directly to 5 Best Augmented Reality Stocks Under $5.

Augmented reality technology is found in broad applications within entertainment, training, brand engagement, augmented surgeries, virtual tours, and quality control, among others. Small and medium-sized enterprises are increasingly adopting this technology to improve customer experiences and stay competitive in the market. Industries such as manufacturing, healthcare, retail, gaming, education, and automotive are actively embracing AR for training, maintenance, assistance, and monitoring purposes. The augmented reality market is expected to grow due to increased smartphone adoption and app integration, according to Fortune Business Insights. Moreover, key market players collaborating with 5G providers to address latency issues are anticipated to drive market growth. For example, in May 2022, Telstra Group Limited (ASX:TLS), an Australian telecommunications company, partnered with Google and Accenture to create a 5G-powered augmented reality experience at Melbourne’s Marvel Stadium. Such collaborations among major tech providers are likely to enhance the potential of AR in diverse innovative and immersive applications.

The AR market was valued at $42.20 billion in 2022 and is forecasted to reach $1.11 trillion by 2030, exhibiting a 50.7% compound annual growth rate. In 2022, the North American augmented reality market was valued at $13.72 billion. Key industry players like PTC Inc. (NASDAQ:PTC), Apple Inc. (NASDAQ:AAPL), QUALCOMM Incorporated (NASDAQ:QCOM), and Sony Group Corporation (NYSE:SONY) offer different AR solutions. For instance, PTC Inc. (NASDAQ:PTC) provides products like Vuforia AR, Vuforia Studio, Vuforia Expert Capture, Vuforia Instruct, and Vuforia Spatial Toolbox, while Google LLC offers ARCore, an AR platform featuring cloud anchors, environmental HDR, and depth for digital objects.

In 2023, we witnessed the launch of Meta Platforms, Inc. (NASDAQ:META)’s Meta Quest 3 and Meta Quest Pro, alongside Apple Inc. (NASDAQ:AAPL)’s premium VR device, targeted either as a creative tool or a luxury item due to its high price. This year might unveil Apple Inc. (NASDAQ:AAPL)’s anticipated AR glasses. Different devices, like the Apple Glasses and Meta Quest Pro, will strive to offer unique experiences. Some will emphasize a sophisticated high-end encounter, while others will prioritize lightweight and simplicity, understanding that current headset sizes and weights deter adoption for many users. Online platforms enabling remote teamwork will evolve in 2024, aiming for increased immersion and practicality. Despite the popularity of remote work, certain aspects of in-person communication are challenging to replicate. Collaborative mixed reality tools are expected to utilize VR and AR more extensively, capturing and expressing the subtle nuances of interaction that are difficult to convey through video calls.

Apple Inc. (NASDAQ:AAPL)’s Tim Cook unveiled the “Vision Pro,” an augmented reality headset, during the WWDC event in June 2023. According to Cook, it represents a new kind of computer that enhances user experience through the most natural and intuitive methods. He likened its significance to the introduction of previous Apple Inc. (NASDAQ:AAPL) products, suggesting that just as the Mac brought personal computing and the iPhone brought mobile computing, the Vision Pro will introduce us to spatial computing. The Vision Pro marks Apple’s entry into a significant new product category, the first since 2015. Priced at $3,499, this headset seamlessly combines virtual and augmented reality. Historically, this market has been somewhat specialized, with Meta holding a dominant position. However, Apple aims to leverage advanced technology and its renowned marketing skills to elevate this sector. During the launch event at Apple’s New York store, CEO Tim Cook highlighted the device’s impressive interface, describing it as a “magical way to control” the headset. The Vision Pro utilizes eye movement and hand gestures for navigation, offering users immersive experiences. Cook draws parallels between the Vision Pro’s debut and the launches of other iconic Apple devices, such as the Mac, iPod, and iPhone, emphasizing that it now stands among the groundbreaking products in Apple’s history.

New entrants are creating a buzz in the augmented reality space. For example, Xreal, a maker of augmented reality glasses, is in the process of raising $60 million in funding, bringing its total funding to over $300 million and valuing the company at more than $1 billion. The CEO, Chi Xu, aims to stay ahead of competitors like Apple, Meta Platforms, and Google in the augmented reality space. Xreal, a Chinese startup, holds approximately 4% of the overall mixed reality market, with a significant presence in the AR-only devices sector. The funds will support the production of 2 million devices next year, with a target of going public in the United States within the next two years. The company anticipates generating $100 million to $150 million in revenue in 2024 and between $200 million and $300 million in 2025.

Although the augmented reality market is dominated by tech giants like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:META), we discuss AR stocks under $5 in this article.

Our Methodology

We used a stock screener and filtered out augmented reality stocks that were under or close to $5 as of February 6. We sorted the resultant stocks in the descending order of their market cap to filter out small companies which have volatile performance and are not an appropriate indicator of the market performance overall. The following stocks are arranged in the ascending order of hedge fund sentiment as of the third quarter of 2023.

10 Best Augmented Reality Stocks Under $5 Photo by David Dvořáček on Unsplash

Best Augmented Reality Stocks Under $5

10. ImagineAR Inc. (OTC:IPNFF)

Share Price as of February 6: $0.0401

Number of Hedge Fund Holders: N/A

ImagineAR Inc. (OTC:IPNFF) provides fun and interactive content to users through a cloud-based platform for augmented reality. Their lineup includes the ImagineAR Augmented Reality Platform, offering engagement options like marker, location, and web-based activation. They also offer the ImagineAR mobile app, an SDK/API enabling unlimited AR activations, scavenger hunts, reward cards, and analytics. Additionally, they provide the ImagineAR Cloud, a secure system for storing and managing AR content, along with WebAR services. Their services cater to industries such as retail, sports/live events, advertising/promotions, e-sports, and fundraising.

On May 23, ImagineAR Inc. (OTC:IPNFF) disclosed a non-brokered private funding opportunity for a maximum of 13.03 million units, priced at $.033 per unit, aiming to raise up to $0.43 million in total proceeds.

While Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:META) dominate the augmented reality market, ImagineAR Inc. (OTC:IPNFF) is one of the best augmented reality stocks under $5.

9. Nextech3D.AI Corporation (OTC:NEXCF)

Share Price as of February 6: $0.1428

Number of Hedge Fund Holders: N/A

Nextech3D.AI Corporation (OTC:NEXCF) specializes in augmented reality and wayfinding technologies, along with offering 3D model services. It is one of the best augmented reality stocks under $5. The company’s focus revolves around developing high-quality 3D WebAR photorealistic models specifically for leading ecommerce platforms and other online retail outlets. Established in 2018, the company is based in Toronto, Canada.

On November 29, Nextech3D.AI Corporation (OTC:NEXCF) announced Q3 GAAP earnings per share of -$0.03, outperforming Wall Street estimates by $0.01. However, its revenue came in at $0.87 million, falling short of estimates by approximately $0.39 million.

8. ARway Corporation (OTC:ARWYF)

Share Price as of February 6: $0.39

Number of Hedge Fund Holders: N/A

ARway Corporation (OTC:ARWYF) is involved in creating and managing intellectual property applications in Canada. Their main product is ARway, a mobile app designed as a simple tool for people and brands to create their own Metaverse using augmented reality mapping solutions. Additionally, they offer tools like ARwayKit SDK, a creator portal, and smart glasses that work with artificial intelligence. ARway Corporation (OTC:ARWYF) is ranked 8th on our list of the best augmented reality stocks.

On August 29, ARway Corporation (OTC:ARWYF) revealed that CEO Evan Gappelberg bought 18,000 shares through open market transactions on August 24 and August 25. The average purchase price for these shares was $0.45 or C$0.61.

7. WiMi Hologram Cloud Inc. (NASDAQ:WIMI)

Share Price as of February 6: $0.6051

Number of Hedge Fund Holders: 2

WiMi Hologram Cloud Inc. (NASDAQ:WIMI), ranking 7th on our list of the best augmented reality stocks, delivers augmented reality holographic services and products in China. Its operations are divided into three segments – AR Advertising Services, AR Entertainment, and Semiconductor Related Products and Services. The company mainly focuses on providing holographic AR advertising services and creating holographic AR entertainment products.

On June 20, WiMi Hologram Cloud Inc. (NASDAQ:WIMI) announced the development of a human-computer interaction system. This system integrates a hybrid vision model that combines computer vision and mixed reality technologies.

As per Insider Monkey’s third quarter database, 2 hedge funds were bullish on WiMi Hologram Cloud Inc. (NASDAQ:WIMI), compared to 3 funds in the preceding quarter. Anand Parekh’s Alyeska Investment Group held the largest position in the company, comprising 136,518 shares worth $129,501.

6. The Glimpse Group, Inc. (NASDAQ:VRAR)

Share Price as of February 6: $1.2136

Number of Hedge Fund Holders: 1

The Glimpse Group, Inc. (NASDAQ:VRAR) is one of the best augmented reality stocks. It operates as a virtual reality and augmented reality platform provider, focusing on enterprise-oriented software and solutions in the United States. They offer different products – QReal, a software generating lifelike 3D interactive digital models for AR; Immersive Health Group, a VR/AR platform focusing on healthcare solutions based on evidence and outcomes; and Foretell Reality, a social VR platform catering to behavioral health, support groups, collaboration, and training in soft skills.

On November 14, The Glimpse Group, Inc. (NASDAQ:VRAR) announced financial results for the first quarter of fiscal year 2024. The company reported a GAAP EPS of -$0.01 and a revenue of $3.1 million, beating market consensus by $0.17 and $0.1 million, respectively. 

As per Insider Monkey’s third quarter database, Ken Griffin’s Citadel Investment Group held a significant position in the company, with 96,113 shares worth $176,848.

Although Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:META) are the key players in the augmented reality industry, The Glimpse Group, Inc. (NASDAQ:VRAR) ranks 6th on our list of the best augmented reality stocks under $5.

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Disclosure: None. 10 Best Augmented Reality Stocks Under $5 is originally published on Insider Monkey.

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