Why Apple will beat Meta in the augmented and virtual reality battle

There will also be competition from Microsoft, Alphabet, Snap and Sony. But none of these companies can match Apple's combination of design chops, cutting-edge hardware and a huge existing ecosystem

Rumors of an Apple Inc. mixed-reality headset have swirled for years. Now, they’re getting very real.

Last week, Bloomberg’s Mark Gurman reported that Apple demonstrated an AR/VR (augmented and virtual reality) device to its board of directors and has a “consumer release planned for 2023.” Whenever the headset does come out, Apple is well-placed to win the mixed-reality battle.

The leading competitor in the space is Meta Platforms Inc. (aka the artist formerly known as Facebook). CEO Mark Zuckerberg renamed the company and committed to spending $10 billion a year to bring to life his vision of a VR-enabled metaverse.