While the concept of virtual reality may immediately harken images of video games, the reality is that the utility underlying strong buy VR stocks goes well beyond entertainment. Don’t get me wrong – there’s nothing wrong with gaming-centric VR applications, which represents a booming industry. However, it would be a disservice not to mention the technology’s myriad other uses.
First, strong buy VR stocks offer a potential paradigm shift in training and learning. Through engaging and interactive training simulations for various industries – including medicine, aviation and defense – operators-in-training can learn valuable skills and safe practices in a controlled, risk-free environment. Stated differently, it’s better to make mistakes in the virtual world and learn from them before entering the real one.
Second, VR offers accessibility and connection solutions. Mainly, virtual representations can help break down barriers, enabling people from all over to interact. In addition, those who may suffer from mobility-related challenges can benefit from VR’s enhanced experiences. As well, they offer therapeutic applications, such as pain and fear management.
With so many exciting avenues available, you should do yourself a favor and investigate these strong buy VR stocks.
Meta Platforms (META)
With the company changing its name from Facebook to Meta Platforms (NASDAQ:META), it had little choice but to be one of the strong buy VR stocks. After all, CEO Mark Zuckerberg stated that the identity evolution materialized to reflect growth opportunities in the metaverse. Essentially, the metaverse is a VR space in which users can interact with computer-generated environments and other users.
Organically, then, the company invested heavily in its VR headset unit, which became the Quest series of products. As Meta’s website states, Quest enables real connections through virtual hangouts. As well, with the Meta Quest Pro – which retails for $999.99 – Meta’s premium VR headset facilitates myriad uses in terms of professional collaboration and creativity.
Further, it doesn’t hurt that META has been absolutely flying. Since the beginning of this year, shares gained almost 36% of equity value. That was helped in large part by the company’s recent announcement of a dividend. If that wasn’t enough, META enjoys a strong buy consensus analyst rating with a $522 price target.
A company that continues to dominate the broader tech ecosystem, Microsoft (NASDAQ:MSFT) doesn’t really need much coaxing. I mean, really, the company sells itself. Since the beginning of the year, MSFT gained almost 12% of market value. Over the trailing year, it popped up a bit more than 57%. Given that its Windows operating system commands 73% of global PC market share, it’s practically relevant on a permanent basis.
But that doesn’t mean it can’t grow any more – clearly, that’s not the case. Sure enough, the company ranks among the strong buy VR stocks. As a powerhouse in the field of professional and gaming computing applications, Microsoft’s VR unit sees significant demand. As well, the U.S. Army uses the company’s HoloLens technology in high-tech headsets for soldiers. Thus, the tech isn’t just about training but also about protecting servicemembers.
Further, with its mixed reality solutions, Microsoft may help advance healthcare. With so many relevancies, it’s no wonder that analysts peg MSFT a consensus strong buy with a $469.45 price target.
Advanced Micro Devices (AMD)
To be sure, Advanced Micro Devices (NASDAQ:AMD) is not a direct player within the realm of strong buy VR stocks. Instead, the company is a semiconductor firm, garnering fame for its advanced graphics processing units (GPUs). Obviously, Advanced Micro competes with Nvidia (NASDAQ:NVDA) in the space. And yeah, you can go with NVDA. But with it skyrocketing again, some concerns of bag-holding exist.
On the flipside, while AMD is no slouch, it’s comparatively much more palatable. Not only that, with VR systems rising sharply regarding their capabilities, they simply require more bandwidth. Logically, it takes incredibly computing power to run a VR system due to the immersive digital environment. Moreover, GPUs help in the latency department. There’s nothing more frustrating – and nauseating – for your movements to not correspond precisely with their digital representation.
And then, you can factor in all the other businesses – such as blockchain mining – where AMD is relevant and you have an excellent case for strong buy VR stocks. Analysts mostly agree, with the average price target shooting to $194.16.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.