Name of opportunity: 👀
Meta Platforms Inc
Investing in eyewear: 👓
The Wall Street Journal has reported that Meta is currently in talks to buy a minority stake in EssilorLuxottica, which could be as much as 5% of the company. EssilorLuxottica is the parent company of Ray-Ban, the brand with whom Meta have collaborated to produce the Ray-Ban Meta Smart Glasses, which are available in over 150 styles and have features such as a camera and speaker. The feature that has received the most attention in the press is ‘Look And Ask’, integrated AI support that can answer questions and respond to what the device can see.
The fact that Meta may be looking to invest in EssilorLuxottica suggests that the partnership could be already highly successful and that Meta sees plenty of opportunities for further growth together.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Meta Platforms Inc (Facebook) will increase from $484.15 to $508.42 in the next 12 months. If you invested $1000, you might profit $43.08. The wearable AI market is booming, with plenty of competitors springing up, but with Ray- Ban Meta Smart Glasses receiving some of the best reviews. Analysts at Grand View Research predict that the wearable AI market will be worth US$166.47 billion by 2030, so there is plenty of room for growth in this arena.
Meta has also recently rolled out its business subscription program, Meta Verified, to users in India, Businesses can pay to receive a digital ‘verification’ badge to increase their credibility with potential customers, and the package also includes heightened account support and protection.
Meta stock has also been performing well in general recently, and has now increased in value by 66.1% from its value last year. However, at the end of April, the value of the stock fell after the Q1 earnings report shared weak guidance for the second quarter - on July 31, Meta is set to share its Q2 earnings.
The only social media brand in the Magnificent Seven:📱
The Magnificent Seven are some of the biggest global tech brands:Tesla, Nvidia, Alphabet, Meta Platforms, Microsoft, Apple, and Amazon.com. Meta Platforms is the only one out of them operating in the social media space, although increasingly Meta is also a tech brand, as you can see from its expansion into wearable AI technology, as well as other previous projects. However, in 2023, 97.8% of the company’s revenue came from advertising. Meta owns the platforms Facebook, Instagram, Threads, and WhatsApp. The holding company originally operated under the name Facebook, but rebranded in 2021 when it introduced the metaverse concept - a plan to focus on virtual reality going forward.
Which neme?: 🔍
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