A Meta employee has filed a lawsuit against the company alleging retaliation and negligence after the tech giant rehired a former staffer who had been accused of stalking and harassment. The lawsuit comes after Meta gutted its talent and recruitment department amid larger efforts to restructure its business.
Artificial-intelligence-powered growth is just getting started.
Facebook parent Meta will produce its next-generation virtual and augmented reality headsets in Vietnam, creating more than 1,000 jobs, the company said Tuesday.
Meta Platforms said on Tuesday it will expand investment in artificial intelligence innovation in Vietnam, including production of its latest virtual reality devices from 2025, its latest effort to boost its footprint there.
Meta Platforms, Inc.'s AR glasses could replace smartphones in 2030, driving future growth. The social media company continues absorbing heavy spending by Reality Labs, though the heavy investment in AI is starting to pay off. The stock trades at 23x 2025 EPS targets, while the Reality Labs spending normalization provides a quick boost to EPS.
Meta Platforms (META) reachead $572.44 at the closing of the latest trading day, reflecting a +0.9% change compared to its last close.
Tech stocks for your October 2024 watchlist.
Humans are increasingly engaging with wearable technology as it becomes more adaptable and interactive. One of the most intimate ways gaining acceptance is through augmented reality (AR) glasses.
Meta Platforms held its Meta Connect 2024 live event on Wednesday, and I'm initiating the stock with a buy in light of that. Meta's competitive pricing on Quest 3S headsets versus Apple's Vision Pro positions it as a leader in the AR/VR market. When mass adoption happens, Meta will have the upper hand. Impressive ad revenue growth and AI ad tool adoption, coupled with cost-cutting measures, should also boost Meta's financial performance in 2025.
Meta Platforms is relying on its Llama 3.1 AI model for a variety of AI-powered tasks. Palantir is growing its commercial customer base even as it continues to win massive government contracts.
Key elements from Meta Connect 2024 included a cheap VR headset, advancements in AI translation, a shift toward a luxury tech company, and Orion AR glasses. The company is building a distinct moat in AR and VR and is positioning itself to be the leader in AI models. Meta is paying now to be rewarded later. Management has to be careful not to create further issues with social disruption with VR initiatives. I am more bullish on its AR offerings for their facilitation of organic interaction.
Meta is outperforming its "Magnificent Seven" peers. Meta AI is set to be the most used AI assistant by the end of the year.