:max_bytes(150000):strip_icc()/GettyImages-2154450378-b5723781ef314e4cafda38c754832d96.jpg "What You Need To Know Ahead of Meta’s Connect Event Wednesday")
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Key Takeaways
- Meta’s annual “Connect” conference kicks off Wednesday, an event focused on developments in its mixed reality and wearable technology.
- Analysts said the company could showcase updated versions of its smart glasses made with Ray-Ban, and a lower cost version of its Quest headset at the event.
- The tech giant could also provide updates on its spending plans regarding VR, and new AI features.
Meta’s (META) annual “Connect” conference kicks off Wednesday, with CEO Mark Zuckerberg set to give a keynote address at 1 p.m. ET that’s expected to focus on developments in Meta’s artificial intelligence (AI) and virtual reality (VR) products.
At the event, the tech giant could unveil updates to the smart glasses it makes in a partnership with Ray-Ban, new augmented reality (AR) glasses internally dubbed “project Orion,” or a lower-cost version of its Quest line of headsets, Bank of America analysts wrote Monday.
Expected Product Launches, AI Updates
The analysts said they will be watching for any new product announcements, along with new data from the tech giant on whether its existing AI products and services are driving people to use products like Facebook, Instagram, and WhatsApp more often.
Updates on how many people use Meta’s various AI offerings, which have been integrated throughout many of its products, could also come with announcements of new features like new chatbots or collaborations with celebrities lending their voice to an AI product.
The analysts also suggested Meta could unveil other new features like a subscription-based AI product or a third party headset using its licensed Horizon Worlds operating system.
The company announced new versions of its Quest headsets at each of its last two September events, and the analysts said they expect a $300 Quest 3S could be one of this year’s big announcements. That compares to a $500 price tag for the Quest 3, and $3,500 for Apple’s (AAPL) Vision Pro, after disappointing Vision Pro sales reportedly led Meta to temporarily shelve plans for a higher-cost version.
Meta shares are up nearly 60% since the start of the year, at $564.41 as of Monday’s close.