In a note to clients Monday, Piper Jaffray’s Gene Munster reports that Apple “has assembled its own team of virtual and augmented reality engineers and is ‘exploring the [augmented reality] space,'” Philip Elmer-DeWitt reports for Fortune.

“His evidence: Apple spent $32 million in March to acquire the engineering team at Metaio, a software company with dozens of virtual reality patents,” P.E.D. reports. “In late 2013 Apple acquired PrimeSense for $345 million. Its engineers are best known for designing the first motion sensors for Microsoft’s Xbox Kinect. Apple has hired an unnamed expert that Munster describes as the lead audio engineer from Microsoft’s Hololens project, which alters the direction sounds seem to come from depending on how you turn your head.”

While augmented reality is likely 10 years away from broader consumer adoption, we believe it has the potential to be as profound a technology platform as the smartphone today. — Piper Jaffray analyst Gene Munster

Much more in the full article here.

MacDailyNews Take: It only makes sense that Apple would be exploring this space and there are potential innumerable applications for virtual reality/augmented reality technology.

Apple exploring a new reality with purchase of Metaio – June 3, 2015
Apple patents perforated augmented reality display that you can see and hear through – May 29, 2015
Apple acquires augmented reality company Metaio – May 28, 2015
Apple granted U.S. patent for hybrid VR head-mounted display – February 18, 2015
Apple is working on VR user interfaces and gaming; looking for Oculus and Leap experts – February 10, 2015
Apple granted patent for display-based speakers for iOS devices – January 13, 2015
Apple granted a patent for devices with a transparent display – November 18, 2014
Apple patent application reveals personal display headset invention – May 8, 2014
Apple continues to tweak Apple TV video headset accessory – April 10, 2014
Apple patent application reveals sapphire flexible transparent display devices created with Liquidmetal – December 19, 2013
Apple granted knockout patent for head-mounted personal display – December 10, 2013
iGlasses: Apple granted patent for head-mounted augmented reality displays – July 5, 2012