APP - Unity Software's CEO Is Out but 1 Software Peer Could Be a Better Buy
2023-10-17 08:58:00 ET
Shares of Unity Software (NYSE: U) , a maker of software for video-game and other 3D content creation, are falling again. There was some short-term hype earlier this year when Apple announced Unity would be a software partner for the upcoming Vision Pro "spatial computing" (i.e., augmented and virtual reality) headset. But that was short-lived as numerous issues at Unity continue to weigh on shareholder sentiment.
The latest problem: CEO John Riccitiello has decided to retire following controversial pricing changes for the company's developers, which Unity has since decided against fully implementing . The stock is down about 60% from its initial public offering (IPO) just over three years ago.
Unity stock doesn't appear to be all that great as a buy-the-dip candidate right now, given its financial position and with a CEO search now underway. However, a former suitor to Unity could be: AppLovin (NASDAQ: APP) . Here's why.
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Unity Software's CEO Is Out, but 1 Software Peer Could Be a Better Buy