Apple Inc. (NASDAQ:AAPL) Poaches Augmented Reality Talent From Magic Leap, Oculus

Apple Inc. (NASDAQ:AAPL) is giving strong hints about augmented reality (AR) developments and the latest hint is the fact that the firm hired two experts from Oculus and Magic Leap.

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The two individuals recently hired by Apple are experts on AR and VR technology. the acquisition of such talent also aligns with hints from Apple CEO Tim Cook that the company is interested in AR and VR technology. Apple hired Yury Petrov and Zeyu Li this summer. They were hired from some of the biggest names in AR and VR, namely Oculus VR which is owned by Facebook Inc (NASDAQ:FB) and Magic Leap.

The two individuals are knowledgeable in AR and VR technology and this could only mean that Apple is planning to jump into high gear with virtual reality and augmented reality. The company is now investing more into the technology and might, therefore, reveal a new product relatively soon. Petrov is a research scientist at Magic Leap while Li is a vision algorithm engineer.

“VR probably has a lower commercial interest over time,” stated Cook in an interview with Good Morning America.

Cook has positive sentiments about AR and believes it is greater than VR. This suggests that Apple’s product will most likely focus on augmented reality. The idea is that augmented reality allows the user to interact with the environment. Despite the strong hints, Apple has held in its usual fashion and remained silent about any developments. It is therefore not clear what the company is working on, though it should soon be expected in the market.

It is clear that Apple does not want to be left behind as the rivals adopt AR and VR technologies. Research analysts speculate that the firm will most likely reveal a product in 2017 though nothing has been confirmed yet.

Apple stock closed the latest trading session at $114.92 which was $0.65 or 0.56% lower than the value of the stock in the previous session.

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