2023-09-27 14:02:58 ET
Meta Platforms Inc (NASDAQ: META) just announced the Quest 3 – its new virtual reality headset that will go up against the Apple Vision Pro .
Here’s what we know about the Quest 3
Quest 3 will start at $499 or more than double the price of its predecessor that’s by far the best-selling virtual reality headset of all time.
But it does come equipped with “passthrough” – a key feature that’s expected to be available on the Apple Vision Pro as well. It will make the device less isolating thereby making it more suitable for prolonged use.
Other prominent upgrades packed in Quest 3 include a better screen and a more powerful Qualcomm chip. The announcement arrives about a month before Meta Platforms is expected to report its Q3 results.
Consensus is for it to earn $3.53 on a per-share basis this quarter versus $1.64 a share last year.
Should you invest in Meta stock today?
Quest 3 is open for preorders from today and will start shipping from October 10 th .
Apple Inc, on the other hand, is expected to put its Vision Pro on sale in the first quarter of 2024. Note that the Apple Vision Pro starts at $3,499 which is even more expensive than Meta’s Quest Pro at $1,499.
Shares of Meta Platforms Inc are already up more than 130% for the year at writing. Still, Mark Mahaney – Head of Internet Research at Evercore ISI told CNBC this week:
Meta remains one of our top three picks. It’s the cheapest high quality tech asset. I think the stock goes higher from here.
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