Top 10 Promising Metaverse Stocks to Consider Buying in 2023

These top 10 most promising metaverse stocks will bring you good returns in 2023 and further

The metaverse has been the talk of the technology sector in recent years, with stock market pundits predicting that virtual worlds will generate trillions of dollars in value in the coming decades.

But the year 2022 brought a new reality to the metaverse stocks. The economy slowed, and enthusiasm for long-shot tech projects that won't be profitable shortly plummeted. The Nasdaq-100 Technology Sector index fell 33% in 2022, exemplifying that shift in sentiment and many individual stocks fell even further.

However, the pessimism subsided in the early days of 2023. The sector index is up 13% so far, and stocks associated with the metaverse, such as Meta Platforms (META -1.77%) and Snap (SNAP -3.53%), are up even more. Let's look at the top 10 promising metaverse stocks to buy in 2023.

1. Electronic Arts Inc.

Electronic Arts Inc. (NASDAQ: EA) is a leading video game developer and is one of the top 10 promising metaverse stocks that may see increased demand as the metaverse expands, as gaming may become one of the metaverse's largest markets in the future. With reasonably realistic graphics in the metaverse, it may be possible to play games in entirely new ways, potentially adding value to Electronic Arts Inc.'s (NASDAQ: EA) products.

2. Unity Software Inc

Unity is a company that focuses on real-time 3D technology with a complete suite of software solutions for the creation, operation, and realization of any real-time interactive 2D and 3D content for tablet, mobile, PC, augmented reality, console, and virtual reality devices. These are all strategies used by Unity to progress toward a meta-universe. With a company like this, you can invest in its promising metaverse stocks with confidence.

3. ASML Holding N.V.

ASML Holding N.V. (NASDAQ: ASML) is a market leader in semiconductor manufacturing equipment. Some companies, such as Meta Platforms, Inc. (NASDAQ: META), will have to spend a lot of money to build the metaverse, which will increase the demand for semiconductors.

4. Advanced Micro Devices, Inc.

Advanced Micro Devices, Inc. (NASDAQ: AMD) is a leading semiconductor company that may benefit from the metaverse by experiencing increased demand for its semiconductors. Companies such as Meta Platforms, Inc. already use Advanced Micro Devices, Inc. (NASDAQ: AMD) semiconductors for some of their data center processing needs, and demand may grow in the future as the metaverse expands.

5. The Walt Disney Company

Advanced Micro Devices, Inc. (NASDAQ: AMD) is a leading semiconductor company that may benefit from the metaverse by increasing demand for its semiconductors. Companies such as Meta Platforms, Inc. (NASDAQ: META) use Advanced Micro Devices, Inc. (NASDAQ: AMD) semiconductors for some of their data center processing needs, and demand may increase in the future as the metaverse expands.

6. NVIDIA Corporation (NASDAQ: NVDA)

Given that 106 hedge funds owned shares of NVIDIA Corporation (NASDAQ: NVDA) at the end of Q4, the company ranks #6 on our list of the 10 Most Promising Metaverse Stocks to Buy. NVIDIA Corporation (NASDAQ: NVDA), like Advanced Micro Devices, Inc. (NASDAQ: AMD), benefits from the metaverse by potentially increasing demand for its GPUs. If the metaverse expands, demand for the company's GPUs may increase.

7. Apple

Apple is best known for its iPhones, but the company is looking for its next big thing outside of smartphones. Rumors have circulated for some time that Apple is about to release a mixed-reality headset (augmented reality and virtual reality), and Bloomberg recently stated that the device would most likely be released this year.

8. Amazon

Amazon currently has the largest cloud computing market share, with approximately 34%, giving it a significant lead over its closest competitor, Microsoft, which has 21% of the market. AWS has grown into a juggernaut for Amazon, with revenue expected to reach US$ 80 billion in 2022, up 29% from the previous year. Even better news for Amazon shareholders is that AWS is extremely profitable.

9. Roblox

The stock of Roblox (NYSE: RBLX) is an intriguing metaverse play because the company has created a popular platform for creating and playing online games and virtual experiences.

The good news for Roblox is that the post-pandemic narratives that plagued the company and drove down prices have been reversed. During the pandemic, Roblox saw an increase in demand as users flocked to its platform while remaining mostly indoors. Those trends then reversed as the pandemic faded and the world reopened. Investors were concerned that Roblox would not recover.

10. Meta Platforms (NASDAQ: META)

The Meta Platforms Since its pivot and rebranding, the stock has been heavily criticized. Investors questioned whether the former Facebook had overestimated the metaverse's potential in renaming itself. Investors' concerns were exacerbated by factors such as the ad spending slowdown in 2022.

On Feb. 2, Meta revealed cost-cutting efforts and shareholder-friendly decisions, which helped to reverse the company's continuous downward trend. Meta also implemented a US $40 billion stock buyback, which means that current shareholders' equity stakes are now worth more. Meta Platforms outperformed expectations, earning US $32.17 billion in revenue.