Meta's AI Breakthroughs Dominate Connect Event As Analyst Highlights Affordable Mixed-Reality Push
Portfolio Pulse from Surbhi Jain
Meta Platforms Inc. showcased its AI and AR advancements at the Meta Connect event, highlighting innovations in AI assistants, AR glasses, and affordable mixed-reality headsets. Despite projected losses in Reality Labs, JPMorgan analyst Doug Anmuth raised Meta's price target, citing strong core business and potential market reach.
September 26, 2024 | 12:50 pm
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Meta Platforms Inc. impressed with AI and AR advancements at its Meta Connect event. Innovations include AI assistants, AR glasses, and affordable mixed-reality headsets. Despite projected losses in Reality Labs, JPMorgan raised Meta's price target to $640, citing strong core business.
Meta's advancements in AI and AR, particularly the affordable Quest 3S headset, position it well against competitors like Apple. The raised price target by JPMorgan reflects confidence in Meta's core business and its potential to capture a larger market share despite projected losses.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100