diff --git a/e2e/next/src/next.test.ts b/e2e/next/src/next.test.ts
index 6d95facbebd42..f7f2bdf58aadd 100644
--- a/e2e/next/src/next.test.ts
+++ b/e2e/next/src/next.test.ts
@@ -161,21 +161,12 @@ describe('Next.js Applications', () => {
     updateFile(
       `apps/${appName}/pages/index.tsx`,
       `
-        import React, { useEffect, useState } from 'react';
-
-        export const Index = () => {
-          const [greeting, setGreeting] = useState('');
-
-          useEffect(() => {
-            fetch('/external-api/hello')
-              .then(r => r.text())
-              .then(setGreeting);
-          }, []);
-
-          return <>
-            <h1>{greeting}</h1>
-            <h2>{process.env.NX_CUSTOM_VAR}</h2>
-          </>;
+        import React from 'react';
+        
+        export const Index = ({ greeting }: any) => {
+          return (
+            <p>{process.env.NX_CUSTOM_VAR}</p>
+          );
         };
         export default Index;
       `
@@ -185,7 +176,7 @@ describe('Next.js Applications', () => {
       `apps/${appName}/pages/api/hello.js`,
       `
         export default (_req, res) => {
-          res.status(200).send('Welcome to ${appName}');
+          res.status(200).send('Welcome');
         };
       `
     );
@@ -198,9 +189,10 @@ describe('Next.js Applications', () => {
       }
     );
 
-    const data = await getData(port);
-    expect(data).toContain(`Welcome to ${appName}`);
-    expect(data).toContain(`test value from a file`);
+    const apiData = await getData(port, '/external-api/hello');
+    const pageData = await getData(port, '/');
+    expect(apiData).toContain(`Welcome`);
+    expect(pageData).toContain(`test value from a file`);
 
     try {
       await promisifiedTreeKill(p.pid, 'SIGKILL');
@@ -356,7 +348,7 @@ describe('Next.js Applications', () => {
     );
 
     const data = await getData(port);
-    expect(data).toContain(`Welcome to ${appName}`);
+    expect(data).toContain(`Welcome`);
 
     try {
       await promisifiedTreeKill(p.pid, 'SIGKILL');
@@ -419,9 +411,9 @@ describe('Next.js Applications', () => {
   }, 300000);
 });
 
-function getData(port: number): Promise<any> {
+function getData(port: number, path = ''): Promise<any> {
   return new Promise((resolve) => {
-    http.get(`http://localhost:${port}`, (res) => {
+    http.get(`http://localhost:${port}${path}`, (res) => {
       expect(res.statusCode).toEqual(200);
       let data = '';
       res.on('data', (chunk) => {
diff --git a/packages/next/migrations.json b/packages/next/migrations.json
index dfeaea3b84de2..51beb49861e94 100644
--- a/packages/next/migrations.json
+++ b/packages/next/migrations.json
@@ -220,6 +220,23 @@
           "alwaysAddToPackageJson": false
         }
       }
+    },
+    "13.10.0": {
+      "version": "13.10.0-beta.1",
+      "packages": {
+        "next": {
+          "version": "12.1.2",
+          "alwaysAddToPackageJson": false
+        },
+        "eslint-config-next": {
+          "version": "12.1.2",
+          "alwaysAddToPackageJson": false
+        },
+        "sass": {
+          "version": "1.49.9",
+          "alwaysAddToPackageJson": false
+        }
+      }
     }
   }
 }
diff --git a/packages/next/src/utils/versions.ts b/packages/next/src/utils/versions.ts
index 17ce54ebe6f3d..ddc0126ad4e34 100644
--- a/packages/next/src/utils/versions.ts
+++ b/packages/next/src/utils/versions.ts
@@ -1,7 +1,7 @@
 export const nxVersion = '*';
 
-export const nextVersion = '12.1.0';
-export const eslintConfigNextVersion = '12.1.1-canary.3';
+export const nextVersion = '12.1.2';
+export const eslintConfigNextVersion = '12.1.2';
 export const sassVersion = '1.43.2';
 export const lessLoader = '10.2.0';
 export const stylusLoader = '6.2.0';
diff --git a/packages/react-native/migrations.json b/packages/react-native/migrations.json
index 053e63657d7e9..e765a3b0b2b77 100644
--- a/packages/react-native/migrations.json
+++ b/packages/react-native/migrations.json
@@ -440,6 +440,35 @@
           "alwaysAddToPackageJson": false
         }
       }
+    },
+    "13.10.0": {
+      "version": "13.10.0-beta.1",
+      "packages": {
+        "react-native": {
+          "version": "0.67.4",
+          "alwaysAddToPackageJson": false
+        },
+        "metro": {
+          "version": "0.70.0",
+          "alwaysAddToPackageJson": false
+        },
+        "@types/react": {
+          "version": "17.0.43",
+          "alwaysAddToPackageJson": false
+        },
+        "metro-react-native-babel-preset": {
+          "version": "0.70.0",
+          "alwaysAddToPackageJson": false
+        },
+        "@testing-library/react-native": {
+          "version": "9.1.0",
+          "alwaysAddToPackageJson": false
+        },
+        "@babel/runtime": {
+          "version": "7.17.8",
+          "alwaysAddToPackageJson": false
+        }
+      }
     }
   }
 }
diff --git a/packages/react-native/src/generators/init/init.spec.ts b/packages/react-native/src/generators/init/init.spec.ts
index 1bdbc6e63b1cd..e8917d8fa6369 100644
--- a/packages/react-native/src/generators/init/init.spec.ts
+++ b/packages/react-native/src/generators/init/init.spec.ts
@@ -1,3 +1,4 @@
+import { logger } from '@nrwl/devkit';
 import { Tree, readJson, updateJson } from '@nrwl/devkit';
 import { createTreeWithEmptyWorkspace } from '@nrwl/devkit/testing';
 import { reactNativeInitGenerator } from './init';
@@ -34,6 +35,31 @@ describe('init', () => {
     expect(content).toMatch(/# Nested node_modules/);
   });
 
+  it.each`
+    version
+    ${'18.0.0'}
+    ${'~18.0.0'}
+    ${'^18.0.0'}
+  `(
+    'should warn if React v18 is already installed in workspace',
+    async ({ version }) => {
+      const spy = jest.spyOn(logger, 'warn');
+      spy.mockImplementation(() => {});
+      updateJson(tree, 'package.json', (json) => {
+        json.dependencies = {
+          react: version,
+        };
+        return json;
+      });
+
+      await reactNativeInitGenerator(tree, { e2eTestRunner: 'none' });
+
+      expect(spy).toHaveBeenCalledWith(expect.stringContaining('incompatible'));
+
+      spy.mockRestore();
+    }
+  );
+
   describe('defaultCollection', () => {
     it('should be set if none was set before', async () => {
       await reactNativeInitGenerator(tree, { e2eTestRunner: 'none' });
diff --git a/packages/react-native/src/generators/init/init.ts b/packages/react-native/src/generators/init/init.ts
index f3764cc8493b7..b45ab12534c25 100644
--- a/packages/react-native/src/generators/init/init.ts
+++ b/packages/react-native/src/generators/init/init.ts
@@ -4,6 +4,8 @@ import {
   convertNxGenerator,
   detectPackageManager,
   formatFiles,
+  logger,
+  readJson,
   removeDependenciesFromPackageJson,
   Tree,
 } from '@nrwl/devkit';
@@ -11,10 +13,7 @@ import { Schema } from './schema';
 import { runTasksInSerial } from '@nrwl/workspace/src/utilities/run-tasks-in-serial';
 import { jestInitGenerator } from '@nrwl/jest';
 import { detoxInitGenerator } from '@nrwl/detox';
-import {
-  reactVersion,
-  typesReactVersion,
-} from '@nrwl/react/src/utils/versions';
+import { typesReactVersion } from '@nrwl/react/src/utils/versions';
 
 import {
   babelRuntimeVersion,
@@ -31,6 +30,7 @@ import {
   reactNativeSvgVersion,
   reactNativeVersion,
   reactTestRendererVersion,
+  reactVersion,
   testingLibraryJestNativeVersion,
   testingLibraryReactNativeVersion,
   typesReactNativeVersion,
@@ -65,6 +65,13 @@ export async function reactNativeInitGenerator(host: Tree, schema: Schema) {
 
 export function updateDependencies(host: Tree) {
   const isPnpm = detectPackageManager(host.root) === 'pnpm';
+  const { dependencies = {} } = readJson(host, 'package.json');
+  // TODO(jack): Remove this once React Native 0.68.0 is out.
+  if (dependencies['react']?.match(/[\^~]?18/)) {
+    logger.warn(
+      `React version ${dependencies['react']} is incompatible with React Native version ${reactNativeVersion}. Nx will downgrade the version to ${reactVersion}.`
+    );
+  }
   return addDependenciesToPackageJson(
     host,
     {
diff --git a/packages/react-native/src/utils/versions.ts b/packages/react-native/src/utils/versions.ts
index 8f2b4b913635b..d9cc73d4a9bb2 100644
--- a/packages/react-native/src/utils/versions.ts
+++ b/packages/react-native/src/utils/versions.ts
@@ -1,9 +1,14 @@
 export const nxVersion = '*';
 
-export const reactNativeVersion = '0.67.3';
+export const reactNativeVersion = '0.67.4';
 export const typesReactNativeVersion = '0.67.3';
 
-export const metroVersion = '0.69.1';
+export const metroVersion = '0.70.0';
+
+// TODO(jack): Remove this once react-native 0.68.0 is released.
+// v18 is only supported on the New Architecture
+// See: https://reactnative.dev/blog/2022/03/15/an-update-on-the-new-architecture-rollout
+export const reactVersion = '17.0.2';
 
 export const reactNativeCommunityCli = '7.0.1';
 export const reactNativeCommunityCliIos = '7.0.1';
@@ -12,9 +17,9 @@ export const reactNativeCommunityCliAndroid = '7.0.1';
 export const reactNativeConfigVersion = '1.4.5';
 export const reactNativeAsyncStorageAsyncStorageVersion = '1.16.3';
 
-export const metroReactNativeBabelPresetVersion = '0.69.1';
+export const metroReactNativeBabelPresetVersion = '0.70.0';
 
-export const testingLibraryReactNativeVersion = '9.0.0';
+export const testingLibraryReactNativeVersion = '9.1.0';
 export const testingLibraryJestNativeVersion = '4.0.4';
 
 export const jestReactNativeVersion = '18.0.0';
@@ -24,4 +29,4 @@ export const reactTestRendererVersion = '17.0.2';
 export const reactNativeSvgTransformerVersion = '1.0.0';
 export const reactNativeSvgVersion = '12.3.0';
 
-export const babelRuntimeVersion = '7.17.7';
+export const babelRuntimeVersion = '7.17.8';
diff --git a/packages/react/migrations.json b/packages/react/migrations.json
index fd325e02154eb..3378935fc04d2 100644
--- a/packages/react/migrations.json
+++ b/packages/react/migrations.json
@@ -29,6 +29,12 @@
       "version": "13.0.0-beta.0",
       "description": "Migrate Storybook to use webpack 5",
       "factory": "./src/migrations/update-13-0-0/migrate-storybook-to-webpack-5"
+    },
+    "update-react-18-13.10.0": {
+      "cli": "nx",
+      "version": "13.10.0-beta.0",
+      "description": "Update to React 18",
+      "factory": "./src/migrations/update-13-10-0/update-13-10-0"
     }
   },
   "packageJsonUpdates": {
@@ -268,12 +274,16 @@
           "version": "5.3.5",
           "alwaysAddToPackageJson": false
         },
+        "eslint-plugin-react": {
+          "version": "7.29.4",
+          "alwaysAddToPackageJson": false
+        },
         "styled-jsx": {
-          "version": "5.0.1",
+          "version": "5.0.2",
           "alwaysAddToPackageJson": false
         },
-        "eslint-plugin-react": {
-          "version": "7.29.4",
+        "eslint-plugin-react-hooks": {
+          "version": "4.4.0",
           "alwaysAddToPackageJson": false
         }
       }
diff --git a/packages/react/src/migrations/update-13-10-0/update-13-10-0.spec.ts b/packages/react/src/migrations/update-13-10-0/update-13-10-0.spec.ts
new file mode 100644
index 0000000000000..39862a215b18e
--- /dev/null
+++ b/packages/react/src/migrations/update-13-10-0/update-13-10-0.spec.ts
@@ -0,0 +1,50 @@
+import { createTreeWithEmptyWorkspace } from '@nrwl/devkit/testing';
+import { writeJson, readJson, Tree } from '@nrwl/devkit';
+import migrate from './update-13-10-0';
+
+describe('Update tsconfig for React apps', () => {
+  let tree: Tree;
+
+  beforeEach(() => {
+    tree = createTreeWithEmptyWorkspace();
+  });
+
+  it('should update to React 18 if React Native is not installed', async () => {
+    writeJson(tree, 'package.json', {
+      dependencies: {
+        react: '17.0.2',
+      },
+    });
+
+    const installTask = await migrate(tree);
+    expect(installTask).toBeDefined();
+  });
+
+  it('should update to React 18 if React Native 0.68.0-rc.4 is installed', async () => {
+    writeJson(tree, 'package.json', {
+      dependencies: {
+        react: '17.0.2',
+        'react-native': '0.68.0-rc.4',
+      },
+    });
+
+    await migrate(tree);
+
+    const installTask = await migrate(tree);
+    expect(installTask).toBeDefined();
+  });
+
+  it('should skip update to React 18 if React Native 0.67.0 is installed', async () => {
+    writeJson(tree, 'package.json', {
+      dependencies: {
+        react: '17.0.2',
+        'react-native': '0.67.0',
+      },
+    });
+
+    await migrate(tree);
+
+    const installTask = await migrate(tree);
+    expect(installTask).not.toBeDefined();
+  });
+});
diff --git a/packages/react/src/migrations/update-13-10-0/update-13-10-0.ts b/packages/react/src/migrations/update-13-10-0/update-13-10-0.ts
new file mode 100644
index 0000000000000..8da7193550ac0
--- /dev/null
+++ b/packages/react/src/migrations/update-13-10-0/update-13-10-0.ts
@@ -0,0 +1,34 @@
+import {
+  addDependenciesToPackageJson,
+  readJson,
+  logger,
+  Tree,
+} from '@nrwl/devkit';
+
+// Putting this here because React Native 0.67 is incompatible with React 18.
+// Waiting for 0.68 to come out with support for React 18.
+// TODO(jack): For Nx 14 let's add another migration for React 18 in migrations.json because by then React Native 0.68.0 should be released.
+export async function updateToReact18(host: Tree) {
+  const { dependencies } = readJson(host, 'package.json');
+  if (
+    dependencies['react-native'] &&
+    !dependencies['react-native'].match(/[\^~]?0.68/)
+  ) {
+    logger.info(
+      `React Native ${dependencies['react-native']} is incompatible with React 18. Skipping update until React Native 0.68.0 is released.`
+    );
+  } else {
+    return addDependenciesToPackageJson(
+      host,
+      {
+        react: '18.0.0',
+        'react-dom': '18.0.0',
+        'react-is': '18.0.0',
+        'react-test-renderer': '18.0.0',
+      },
+      {}
+    );
+  }
+}
+
+export default updateToReact18;
diff --git a/packages/react/src/utils/versions.ts b/packages/react/src/utils/versions.ts
index c7538d59aece6..099a99e8b54ed 100755
--- a/packages/react/src/utils/versions.ts
+++ b/packages/react/src/utils/versions.ts
@@ -1,8 +1,8 @@
 export const nxVersion = '*';
 
-export const reactVersion = '17.0.2';
-export const reactDomVersion = '17.0.2';
-export const reactIsVersion = '17.0.2';
+export const reactVersion = '18.0.0';
+export const reactDomVersion = '18.0.0';
+export const reactIsVersion = '18.0.0';
 export const typesReactVersion = '17.0.43';
 export const typesReactDomVersion = '17.0.14';
 export const typesReactIsVersion = '17.0.3';
@@ -14,7 +14,7 @@ export const emotionStyledVersion = '11.8.1';
 export const emotionReactVersion = '11.8.2';
 export const emotionBabelPlugin = '11.7.2';
 
-export const styledJsxVersion = '5.0.1';
+export const styledJsxVersion = '5.0.2';
 
 export const reactRouterDomVersion = '5.3.0';
 export const typesReactRouterDomVersion = '5.3.3';
@@ -24,11 +24,11 @@ export const testingLibraryReactHooksVersion = '7.0.2';
 
 export const reduxjsToolkitVersion = '1.8.0';
 export const reactReduxVersion = '7.2.6';
-export const reactTestRendererVersion = '17.0.2';
+export const reactTestRendererVersion = '18.0.0';
 
 export const eslintPluginImportVersion = '2.25.4';
 export const eslintPluginJsxA11yVersion = '6.5.1';
 export const eslintPluginReactVersion = '7.29.4';
-export const eslintPluginReactHooksVersion = '4.3.0';
+export const eslintPluginReactHooksVersion = '4.4.0';
 
 export const babelPluginStyledComponentsVersion = '1.10.7';