Meta's yearly "Connect" conference begins this Wednesday, with CEO Mark Zuckerberg poised to deliver a keynote speech at 1 p.m. ET. Market insiders expect substantial focus on Meta’s advancements in artificial intelligence (AI) and virtual reality (VR).
During the conference, Meta might reveal developments to its smart glasses, a product born out of a partnership with Ray-Ban. Furthermore, there could be announcements about a new augmented reality (AR) glasses project codenamed "Orion," or a more affordable version of the Quest lineup of headsets, according to a prediction by Bank of America analysts on Monday.
These analysts are particularly interested in any new product launches, along with information on whether Meta's current AI services and products have succeeded in increasing user engagement on platforms such as Facebook, Instagram, and WhatsApp.
Moreover, details on user engagement with Meta's AI technology, which are widely incorporated across their product portfolio, could coincide with launch announcements of new features, including innovative chatbots or collaborations involving celebrities providing their voice for an AI product.
The analysis also senses that Meta may introduce additional features, such as a subscription-based AI product or a headset from a third party incorporating their Horizon Worlds operating system.
Looking at previous trends, the company had unveiled new versions of its Quest headsets at the past two September conferences. Hence, the analysts anticipate a significant announcement of a Quest 3S model priced at $300. This is a substantial decrease compared to the $500 for the Quest 3 model and a stark contrast to Apple's $3,500 Vision Pro.
As of Monday's close, Meta shares have seen a significant rise of nearly 60% since the start of the year, with its share priced at $564.41.