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Apple may have more than 1,000 engineers working on augmented reality for the iPhone, UBS says

Investors should buy Apple shares because the company is making a big bet on augmented reality, according to UBS, which reiterated its buy rating.

"According to some industry sources, the company may have over 1,000 engineers working on a project in Israel that could be related to AR [augmented reality]," analyst Steven Milunovich wrote in a note to clients Tuesday. "Our work suggests that AR could be the next major innovation from Apple and that its competencies could make the company a winner ... Augmented...


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