Meta Platforms (Facebook) Stock News

Artificial-intelligence-powered growth is just getting started.

Facebook parent Meta will produce its next-generation virtual and augmented reality headsets in Vietnam, creating more than 1,000 jobs, the company said Tuesday.

Meta has poured a boatload of money into its metaverse vision.

Meta Platforms said on Tuesday it will expand investment in artificial intelligence innovation in Vietnam, including production of its latest virtual reality devices from 2025, its latest effort to boost its footprint there.

Meta Platforms, Inc.'s AR glasses could replace smartphones in 2030, driving future growth. The social media company continues absorbing heavy spending by Reality Labs, though the heavy investment in AI is starting to pay off. The stock trades at 23x 2025 EPS targets, while the Reality Labs spending normalization provides a quick boost to EPS.

Meta supremo Mark Zuckerberg unveiled Orion smart glasses, a new augmented reality (AR) prototype, at the annual Meta Connect developer conference. Ten years in the making, and still not expected on high streets until 2027, these will be a new way to meld the real and digital worlds.

Meta stock received another price target hike early Monday, as analysts review last week's AI, metaverse event.

Tech stocks for your October 2024 watchlist.