Facebook parent Meta gathers 3% as app for his Oculus headset reaches No. 1 in Apple’s App Store
Facebook’s parent company Meta’s Oculus VR app marked a milestone over the weekend, as it was the most popular download on Apple’s App Store over Christmas.
The Oculus app has beaten longtime leaders like TikTok, YouTube, Snapchat, and Instagram for having the most downloads. Meta hasn’t revealed exactly how many VR headsets it has sold.
This is the first time the Oculus app has been # 1 over Christmas and comes after the parent company’s big bet on the Metaverse. Meta Platforms has dominated metaverse conversations since announcing its Facebook name change.
Meta stock rose 3% to $ 345.06 at 12:22 p.m. ET on Monday, after climbing to $ 346.52 during the day.
KeyBanc Capital Markets analyst Justin Patterson said in a December 26 note that app download data indicates the Oculus was a popular holiday giveaway and may have benefited from a shortage of game consoles. He added that on Christmas Eve, the Oculus was among the top five entertainment apps in five countries and among the top 10 overall apps in the United States.
Earlier this year, Meta CEO Mark Zuckerberg said the metaverse “is going to be the successor to mobile internet,” expects the company to invest at least $ 10 billion to build the virtual domain. .