Google has demonstrated its continued interest in immersive technology by forming a strategic partnership with Magic Leap, a company known for its expertise in mixed reality technology. This new deal proves that Google has not given up on virtual reality and mixed reality, despite the company's previous ventures, such as Google Cardboard and the integration of augmented reality technology into its Pixel smartphones with ARCore.
The exact nature of the partnership between Google and Magic Leap has not been disclosed. However, the press release emphasizes Magic Leap's specific expertise in optics, which could be valuable for future endeavors in immersive technology, including XR and VR.
According to Upload VR, Magic Leap has researched and patented several optical techniques that could be useful for Google's future projects. This partnership may be related to Google's rumored collaboration with Samsung on a new XR headset, referred to as Project Moohan.
Reports from February 2023 suggest that Google and Samsung are working together to create an XR headset that utilizes Samsung hardware, Google branding, and Android XR software. In November 2023, it was reported that Project Moohan had gone back to the drawing board to match some of the specifications of the Apple Vision Pro.
Speculation arises that Google may have inked this partnership with Magic Leap to introduce the latter's optical technology into Project Moohan. However, until Google, Samsung, or Magic Leap issues an official statement, this remains a theory.
The partnership between Google and Magic Leap has the potential to fuel innovation in the mixed reality space. By combining Google's vast resources and expertise in software development with Magic Leap's cutting-edge optical technology, the two companies could create groundbreaking products that push the boundaries of immersive experiences.
As the demand for XR and VR technology continues to grow, partnerships like this one become increasingly important. By pooling their resources and knowledge, companies can accelerate the development of new technologies and bring them to market faster, ultimately benefiting consumers and businesses alike.
NASDAQ: GOOGL
Current Price: $2,850.42
Change: +1.5%
Google's stock is in an overall uptrend, with a steady increase in share price over the past few months. The stock has strong support at around $2,800, which has been tested multiple times and has held firm. The stock is currently facing resistance at the $2,900 level, which it has struggled to break through in recent trading sessions. The stock is trading above its 50-day and 200-day moving averages, indicating a bullish trend. The MACD (Moving Average Convergence Divergence) indicator is showing a positive divergence, suggesting that the stock's upward momentum may continue. The stock has recently retraced to the 38.2% Fibonacci level and has bounced off this level, indicating potential for further upside. The stock is currently trading near the upper Bollinger Band, suggesting that it may be overbought in the short term. However, a strong breakout above the upper band could signal a continuation of the uptrend. Overall, the technical analysis suggests that Google's stock is in a strong uptrend, with potential for further gains in the near future. However, investors should monitor key resistance levels and be aware of the possibility of short-term pullbacks. The partnership with Magic Leap, if successful, could provide a boost to Google's stock price in the long term, as the company continues to innovate in the mixed reality space.
