(NASDAQ: AAPL) and Meta Platforms (NASDAQ: META) generally aren't considered competitors. Apple generates most of its revenue from its hardware devices, and it locks in a lot of those users with its software and services. Meta generates most of its revenue from its ads on Facebook and Instagram.

Yet the two FAANG companies are gradually evolving into adversaries. After years of criticizing Meta's data-tracking practices, Apple finally disrupted Meta's ability to craft targeted ads with a privacy-oriented iOS update in late 2020. Apple also recently unveiled its first mixed-reality device, the Vision Pro, to challenge Meta's Quest headsets in the nascent metaverse market. 

Image source: Apple.

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Source Fool.com