U - Is Unity's Partnership With Apple a Game Changer for the Stock?
2023-06-23 08:15:00 ET
After Apple (NASDAQ: AAPL) announced its Vision Pro mixed reality headset, many people were impressed by the technology. However, Apple didn't do this project alone. One of its key partners was Unity Software (NYSE: U) , which creates top-notch animation software used in gaming and industry.
Unity's stock has had a troublesome run lately, and is 75% off its all-time highs. However, since this partnership was announced on June 5, the stock is up 21%. So is this an actual turnaround moment for Unity? Or is the stock still unworthy of an investment? Let's find out.
For those who follow the industry, it shouldn't be a huge surprise that Apple partnered with Unity to provide content. Unity's platform can create lifelike animations and has applications in gaming and industry. Specifically within gaming, it has tools to develop a game on multiple platforms and get ads on developers' games, which can help them turn a profit.
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Is Unity's Partnership With Apple a Game Changer for the Stock?