Since going public last September, Unity Software (NYSE:U) has already been a rewarding investment. Despite falling 23% from its 52-week high, the stock has still rocketed 94% higher in just under a year.
Even so, now looks like a good time to add Unity to your portfolio. Its business plays into several key trends — video games, augment and virtual reality, and artificial intelligence — and I believe the stock price could easily triple in the next five years.
Here’s why.
Unity has a big market opportunity
Unity is a software company. Its platform allows clients to create, run, and monetize interactive 2D and 3D content across a range of devices, from mobile phones and gaming consoles to augmented and virtual reality headsets. For instance, game developers use the Unity engine to render characters and virtual worlds in real-time, bringing their creative visions to life.
