Analyzing Apple's Growth Strategy - AI Summary

As the world's most valuable company, with a $2T market cap and over $100B in annual profit, Apple has long been known for its cell phones, laptops, tablets, and watches. Today, the company is investing aggressively in high-tech areas like AR/VR, AI, and semiconductors to lay the groundwork for products and features that affect health & wellness, mobility, digital connections, and more. In recent years, companies in the AR/VR space have become serious M&A targets for Apple, coinciding with rumors about its internal development of a mixed reality headset that is expected to release in 2023 (eventually followed by a sleeker pair of glasses). While Apple has not been explicit about its metaverse ambitions like fellow big tech giant Meta, its continued investment in AR/VR sets it up for more immersive digital environments of the future -- and the hardware they may need. II-VI makes the optical technologies that power features like Face ID and Portrait mode, as well as the lasers used in Apple's LiDAR Scanner, which is used to create AR experiences.