5 Best Augmented Reality Stocks to Buy Now

4. Facebook, Inc. (NASDAQ: FB)

Market Cap: 918.366 billion
Number of Hedge Fund Holders: 242

Facebook, Inc. (NASDAQ: FB) is no stranger to the realm of artificial intelligence and AR. Since it acquired Oculus in 2014, the company is working on the latest AR technology and has already rolled out features like camera filters and video calls. It is expected that Facebook is recreating Oculus to combine the latest AR tech with full-service social media features. According to Venture Beat, more than a billion people interacted with Facebook’s Spark AR augmented reality platform. Facebook, Inc. is also one of the companies like Google, Apple, and Snap that believe that AR-enabled smart glasses will eventually replace the functionality of smart phones. The company recently announced that it is also developing a wristband that will control its augmented reality glasses which are set to be launched this year. This wristband will be a simple AR-supporting wearable device which will be capable of detecting nerve signals to interpret complex hand gestures and moves. These exciting prospects in the world of AR makes Facebook, Inc. one of the best augmented reality stocks to buy now. In the first quarter of 2021, the company recorded major earnings and revenues beyond expectations. Facebook logged diluted per-share earnings of $3.30 on total revenue of $26.17 billion, well ahead of Wall Street’s expected earnings of $2.37 per share on revenue of $23.67 billion for the quarter. Facebook shares surged in market trading after this news with a spike of more than 5%.

According to the company’s CEO Mark Zuckerberg, the company is focused towards newer areas like augmented and virtual reality.

As of the fourth quarter of 2020, 242 hedge funds in Insider Monkey’s database held stakes in Facebook with SB Management being the biggest stakeholder with 12 million shares, worth $3.8 billion.

Our calculations show that Facebook, Inc. (NASDAQ: FB) ranks 3rd in our list of the 30 Most Popular Stocks Among Hedge Funds.