Unity Software (NYSE:U) is best known for gaming. It provides tools and software to assist developers in game creation and marketing. In 2019, over 50% of the top 1,000 mobile games were created using Unity. Unity has players in 195 countries, so it’s literally a global company. Unity powers billon-dollar mobile games like Pokémon Go and Angry Birds.
But augmented reality (AR) and virtual reality (VR) are why I personally own the stock. Unity is actually quite diverse in terms of its offerings and industry segments, and it’s a leader in AR and VR. Here are some other areas Unity works in outside of gaming:
- Automotive, transportation, and manufacturing
- Film, animation, and cinematics
- Architecture, engineering, and construction
- Government and aerospace
Unity partners with companies like Lockheed Martin (NYSE:LMT) to build products virtually with real-time 3D. Lockheed Martin saves millions of dollars leveraging Unity to minimize physical product prototyping and testing since that way, problems can be resolved sooner in the development phase. In fact, the more you dig into Unity’s business, the more real-world business use cases you will discover.
In today’s video, I break down Unity’s recent earnings report, then dive into its business and sectors. Unity’s growth is accelerating outside of gaming, and that is the key to its future growth. Please watch the below video for more information and my opinions on the stock.
*Stock prices used in the below video were during the trading day of August 17, 2021. The video was published on August 17, 2021.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
View more information: https://www.fool.com/investing/2021/08/18/unity-software-is-more-than-gaming-is-unity-stock/