Apple Unveils New AR Initiative, Wall Street Not Impressed

Technological trends can be a finicky issue, but Apple has been relatively competent in keeping its fingers on the pulse of the market. In the case of augmented reality, the iPhone maker has been relying on its mobile devices to remain relevant. In fact, it just unveiled the new ARKit 2 during the WWDC along with other AR features that simply failed to impress Wall Street.

The ARKit is basically the iOS framework that allows AR apps and features to work with Apple’s products. By providing this kit to developers, they will be able to create neat software that would then generate interest in the service among users. One of the best examples of just how fun AR apps can be is the game "SwiftShot," which involves firing virtual pellets at competitors in the game, The Verge reports.

Based only on the demo, it would seem that it’s a fairly fun and engaging game. It also highlights how AR can be one of the most promising areas for team sports in the industry. "SwiftShot" wasn’t particularly in-depth or complicated, but it was satisfying. Winning is simply a matter of knocking down the pillars of the other team via well-placed shots.

These are the kinds of things that developers will be able to offer thanks to the ARKit 2 and it’s more than likely that even more enjoyable titles will be produced as a result. After all, Apple is not even a video game development firm and yet even it was able to produce such a fun experience.

Unfortunately, the potential of this new offering is lost on some people, which happens to include analysts at Wall Street. Apparently, some firms were underwhelmed by the presentation and have shared their tepid reception with clients. This reaction is apparently due to the fact that the event was substantially AR-centric, which is an industry that the analysts didn’t believe has reached maturity just yet.