Meta's Quest 3 Launch, AI Agents And More: Get Ready For Connect Developer Conference
Portfolio Pulse from Piero Cingari
Meta Platforms, Inc. (NASDAQ:META) is set to unveil advancements at its annual Connect developer conference, including the launch of Quest 3, a VR headset, and possibly early versions of AI agents. Bank of America's equity analyst Justin Post outlined key areas for investors to scrutinize during the event, including Meta's Metaverse platform investment, developer momentum, AI innovation, and investment spending plans for 2024. The bank holds a Buy rating on Meta’s stock with a 1-year price target of $375. Meta's stock has increased by 140% in 2023, making it the second-best performer among S&P 500 and Nasdaq 100 stocks, behind Nvidia Corp. (NASDAQ:NVDA).
September 26, 2023 | 3:37 pm
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POSITIVE IMPACT
Meta is set to unveil new products and AI agents at its Connect developer conference, which could drive engagement and ad revenues. Bank of America holds a Buy rating on Meta’s stock.
The unveiling of new products and AI agents could drive engagement and ad revenues for Meta. This, coupled with the Buy rating from Bank of America, could positively impact Meta's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nvidia Corp. is the best performer among S&P 500 and Nasdaq 100 stocks in 2023, with a 190% rise.
Nvidia's stock has been performing exceptionally well in 2023, which could continue to attract investors and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50