Meta Connect 2026 Unveils Muse AI, New VR Hardware; Analysts Lift Targets to $920
META sits 49% above its 52-week low of $520.26.
Summary
Meta's stock hit a 52-week high near $779.82 after its Connect 2026 event, where it unveiled the Muse personal AI agent, new Ray-Ban VR glasses, a $1,299 VR device, and over 100 AI glass styles. Analysts responded by raising price targets: Citizens to $885, JPMorgan to $920, KeyBanc to $900, and Cantor to $860, while Morgan Stanley and Mizuho maintained Overweight/Outperform ratings. The company also announced Muse integrations with Instacart, Expedia, and major retailers like Walmart and Best Buy, plus a new Meta One subscription tier ranging from $2.99 to $499 per month. This follows Meta's Q2 report showing 28% revenue growth but compressed margins due to heavy AI spending. The product push signals a broader strategy to monetize its 3.6 billion users through AI and hardware, though cash flow and debt remain pressure points.
Updates
· Wiseek News — Deutsche Bank raised its price target to $820, and Meta's stock surged 13% after the event. Meta also unveiled a camera-free Ray-Ban smart glasses and a Muse Charm device.
At the time of this announcement, META was trading at $775.89 on NASDAQ in the Technology sector, with a market capitalization of approximately $2T. The 52-week trading range was $520.26 to $779.82. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.