Meta Platforms Inc's (NASDAQ:META, ETR:FB2A, SWX:FB) shares look set to open higher in New York trading after CEO Mark Zuckerberg unveiled new augmented reality (AR) glasses and updates at the company's annual developer conference. The glasses, named Orion, can project digital images, games, and communications into the real world.
Meta stock was headed higher early Thursday, as investors digested the AI and metaverse plans from yesterday's Connect event.
Meta Platforms Inc. META continues to excite investors and tech enthusiasts with its AI and AR advancements.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Meta Platforms remains a "Buy" due to strong earnings, new AI features, and Ray-Ban smart glasses, which could drive future growth. META's Q3 earnings showed a 22% YoY revenue increase, driven by higher ad prices and impressions, with a 58% jump in operating income. New AI features and Ray-Ban glasses are expected to boost user engagement and monetization, potentially leading to higher EPS and revenue growth.
Since Mark Zuckerberg rebranded Facebook to Meta Platforms (NASDAQ: META) on October 28, 2021, the resulting company's success has continued to demonstrate why this was such a good decision, including in terms of its earnings, as well as the price of its stocks.
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D.A. Davidson's Gil Luria sees the timing ripe for mass market adoption of AI and Spatial Computing, with Meta poised to benefit from these key trends.
Meta Platforms (META) shares will likely remain in focus for the remainder of the week after the tech titan's stock set a record high on Wednesday and the company kicked off its annual Connect conference.
Meta Platforms (META) stock has now soared over +60% this year, hitting all-time highs of $576 a share on Wednesday.
On Wednesday (Sept. 25), the first of Meta's two-day Meta Connect 2024 conference, Meta CEO Mark Zuckerberg unveiled an ambitious vision for the future of wearable technology.
Chris Cox, Meta chief product officer, joins 'Closing Bell Overtime' to talk Meta's new slate of tech offerings including AR glasses, a new VR headset, and more.