TECH - Cathie Wood's Ark Invest Predicts End Of Smartphone Duopoly: Meta Rabbit R1 And Others Vie For Post-Phone Supremacy | Benzinga
Cathie Wood’s Ark Invest analyst Andrew Kim suggested that the rise of Mark Zuckerberg-led Meta Platforms Inc.’s (NASDAQ:META) Ray-Ban smart glasses, along with other AI consumer hardware products, could potentially disrupt the long-standing smartphone duopoly.
What Happened: In a newsletter on Tuesday, Kim highlighted the impressive fourth-quarter results of Meta, including a 22% year-over-year revenue growth and a 21% increase in operating margin. The company also projected a further 25% revenue growth for the current quarter.
He pointed out that Meta Platforms’ management has identified smart glasses and generative AI as the next consumer hardware/software paradigm in a post-smartphone world. "According to Mark Zuckerberg, sales of the Ray-Ban Meta smart glasses have been higher than expected."
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