Here's Why This Stock May Crash Through the Smart Glasses Ceiling

This week, reports that technology titan Apple is developing so-called digital or smart glasses that use augmented and virtual reality technology with a potential release in 2018 have piqued the curiosity of the company's rabid fans.

However, there is a smaller company with several products like this already on the market, and its stock has been quietly climbing

Vuzix (VUZI) is a wearable technology companies and supplier of smart glasses that use AR and VR technology. The company holds about 40 patents and has 10 additional patents pending.

The AR market is in its early stages. Projections, however, suggest that it should reach the $120 billion mark by 2020.

With a relatively small market value of about $140 million, Vuzix carries stellar growth potential. The secret weapon in its arsenal is the Blade 3000 Smart Sunglasses, which received four International CES Innovation 2017 awards.

These sunglasses allow users to view and interact with digital and video content in high-resolution computer-generated AR and VR worlds.

In addition, Vuzix's expanding product portfolio offers regular glass lenses that are just 1.4 millimeters thick, placing the company at a solid technological advantage in this emerging sector.

Shares of Vuzix are undervalued, given that it boasts a series of successful products in the AR and VR arenas. Although the buzz is stronger around Facebook's Oculus VR headset and Sony's attempt to make in-roads into the sector, Vuzix is gradually garnering acclaim and making a dent in the market.

Apple and Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells AAPL and FB? Learn more now.

If you liked this article you might like

The Best Way to Profit From the Smart Glasses Revolution

4 Stocks You Should Watch Because They're Breaking Out Higher

6 Stocks to Buy to Ride Growth in Virtual and Augmented Reality

These 5 Stocks Are Breaking Out