Meta Platforms releases Quest 3 ahead of schedule, but Goldman Sachs is more bullish on Apple's MR products.
Meta Quest 3 will be released this fall with a starting price of $499. Rumors have been circulating for weeks that Apple's long-awaited mixed reality headset/earphones, "Reality Pro," will be unveiled next week.
Meta Platforms released a new generation of VR headsets, which will be launched in the autumn of this year. This happened just before June 6th, when the long-rumored mixed reality headset/earphones "Reality Pro" is expected to be unveiled.
In addition, Meta Platforms released Quest 3, which has three front-facing cameras to improve the user's visual experience. The display of Quest 3 is 40% thinner than that of Quest 2, providing users with a more comfortable wearing experience. Quest 3 uses a GPU chip, and its processing power is twice that of Quest 2.
Meta Platforms also announced that the price of Quest 2 will be reduced. Starting from June 4th, the price of Meta Platforms' 128GB will be reduced to $299.99, and the 256GB will be reduced to $349.99.
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More optimistic about Apple's MR products
Although Meta Platforms is far ahead in the field of virtual reality, Goldman Sachs analyst Mike Ng believes that Apple's products will be successful.
Mike Ng predicts that Apple's AR/VR head-mounted device may succeed because it has a huge user base, direct sales model (including online and offline), and existing applications that can be used with AR/VR.
It is worth emphasizing that Meta Platforms' Reality Labs saw a 51% decline in sales in the first quarter, reflecting a decline in Quest 2 revenue. In addition, the department reported an operating loss of about $4 billion.
In addition to the problems of Meta Platforms, it also faces fierce competition from Apple and ByteDance.
Nevertheless, the company is focusing on immersive experiences such as VR and expanding its VR ecosystem through new applications.
Wall Street analysts are still optimistic about Meta Platforms
META's stock price has risen sharply, up more than 126% since the beginning of the year.
Investors welcome the company's significant cost-cutting measures to support profitability.
Meta Platforms has received 39 buy ratings, 4 hold ratings, and 2 sell ratings, with a unanimous rating of strong buy.However, due to the recent rebound, the average target price of analysts is $284.19, which means that the upside potential is limited to 4.25%.
