1. A method for managing a content overlay, the method comprising: identifying, by one or more computer processors, a first image viewed by an augmented reality (AR) system; wherein the AR system includes a first AR input device and a second AR input device that include respective cameras and the camera of the first AR input device includes an optical zoom; wherein the first AR input device and the second AR input device are respectively associated with a first AR output device and a second AR output device; wherein each AR output device depicts a respective field of view (FOV) of a user of the AR system based on a magnification applied to the respective AR input device by the user; and wherein each AR output device displays one or more AR content overlays corresponding to an element of interest within the FOV of the corresponding AR input device; identifying, by one or more computer processors, a first element of interest and a second element of interest within the first image; associating, by one or more computer processors, a corresponding first AR content overlay for the first element of interest and a corresponding second AR content overlay for the second element of interest; identifying, by one or more computer processors, a second image from viewed by the AR system; determining, by one or more computer processors, one or more differences between the first image and the second image, wherein the one or more differences between the first image and the second image include a change to the magnification the first AR input device, as initiated by the user, thereby creating a magnified first FOV; wherein the magnification of the second FOV remains unchanged and the second FOV of the second image includes at least the first element of interest; and wherein determining one or more differences further comprises: identifying, by one or more computer processors, state data for the AR system during the viewing of the first image and during the viewing of the second image, wherein state data includes a value for a magnification of the respective AR input device; aggregating, by one or more computer processors, state data for the AR system during the viewing of at least the first image and the second image; determining, by one or more computer processors, a first set of positions corresponding to the first element of interest and the second element of interest within the first FOV associated with the first image, and a second set of positions corresponding to at least the first element of interest within the second image within the magnified first FOV and the unmagnified second FOV; calculating, by one or more computer processors, a second set of positions corresponding to the first element of interest and the second element of interest based, at least in part, on the first set of positions and one or more differences between corresponding state data values of the AR system during the viewing of the first image and the state data values of the AR system during the viewing of the second image; and determining, by one or more computer processors, whether the second image includes at least a portion of the second element of interest within the magnified first FOV based, at least in part, on the calculated second set of positions; determining, by one or more computer processors, that magnified first FOV associated with the second image includes at least a portion of the second element of interest based on the determined one or more differences between the first image and the second image; modifying, by one or more computer processors, a position of each AR content overlay corresponding to at least a portion of each element of interest determined to be included in the magnified first FOV and the unmagnified second FOV based, at least in part, on the one or more differences between the first image and the second image; and displaying, by one or more computer processors, during a viewing of the second image by the user, respective instances of the first AR content overlay and the second AR content overlay respectively positioned and associated with at least a portion of the first element of interest and at least a portion of the second element of interest determined to be included in the magnified first FOV and the unmagnified second FOV.