Meta recently revealed its prototype Orion AR glasses, which excited employees as the company prepares to court developers for an eventual consumer launch.Sign up for NBC Philadelphia's News Headlines newsletter.
Meta shares are up almost 70% this year and trading near a record, boosted by a string of strong earnings reports. The company's gains on Wall Street have benefited Meta CEO Mark Zuckerberg, who earlier in Octoberits fourth straight quarter of sales growth above 20%, investors remain optimistic about the company's overall financial health. Bernstein analystsall reported solid quarterly earnings.
The excitement and buzz around Meta's prototype Orion AR glasses and how they fit into the company's long-term strategy seems to have eclipsed that of Apple and itswhich debuted early this year at a starting price of $3,500, said Barton Crockett, managing director and senior research analyst at Rosenblatt Securities.
"The Orion shows a vision that's interesting, and they've executed a lot better than Apple, which is something that nobody would have believed was possible," Crockett said. Meta also hopes to build off the excitement of its Ray-Ban Meta smart glasses, which it develops in partnership with. Crockett noted that because of the positive reaction to the Ray-Ban Meta glasses, those devices"could be a popular gift this Christmas."36-year-old mom making $10,000 a month or more in passive income: My best advice for starting a successful side hustle