![]() We came away from the event with increased confidence in SNAP’s product momentum and believe that SNAP has ample runway across its five key platforms. ![]() Stock (HCS) areas, enhances ecosystem functions and water quality and quantity. Having bought waveguide maker Akonia in 2018, Apple plans to unveil an AR headset sometime next year.įollowing its 2021 Partner Summit in which Snap outlined new additions to its platform, including augmented reality, Wells Fargo analyst Brian Fitzgerald has reiterated a Buy rating on the stock.įitzgerald stated, “In our view, the Summit demonstrated that the COVID-19 pandemic had done little to slow SNAP’s product development momentum, with impressive AR, artificial intelligence/machine learning, and hardware innovations on display. price and the 2nd item will be discounted by its full retail price. Facebook ( FB) has confirmed it is building custom AR glasses in-house.Īpple ( AAPL), like Snap, is pursuing the technology through an acquisition. ( See SNAP stock analysis on TipRanks)įor example, Google ( GOOGL) has already broken ground forming a team dedicated to developing waveguides technology in-house. Many of the company’s competitors have opted to develop their AR technology instead of pursuing acquisitions to gain a head start on the technology. According to Snap's spokesperson, WaveOptics will continue supplying other companies with its waveguides technology, even after Snap's acquisition of the company.Īdditionally, the acquisition is a defensive move by the social networking giant. Currently, Snap is using its displays in its newly launched spectacles that have been offered to some AR effect creators. WaveOptics has made a name for itself by developing waveguides, a display technology that enables the overlaying of virtual objects in the real world. The $500 million-plus takeover will be the largest ever for Snap, affirming its strong belief in AR eyewear. Subscribe to MarketBeat All Access for the recommendation accuracy rating. Snap, which owns Snapchat, will finance half of the deal with stock and the remaining half either in stock or cash. ![]() WaveOptic’s 125-person team will join and report to the director of Snap’s hardware division. The Verge reports that the camera and social media company will pay more than $500 million for the supplier of augmented reality (AR) displays used in its new spectacles. Snaps DAUs rose 22 year over year to 280 million in the first quarter of 2021. Snap Inc ( SNAP) has reached an agreement to acquire WaveOptics. Snaps stock slid below its IPO price of 17 in late 2017 and plunged to about 5. Headlines About NYSE:SNAP Snap (SNAP) Stock Forecast, Price & News 8.82 +0.21 (+2.44) (As of ET) Compare Today's Range 8.66 9.11 50-Day Range 8.34 11.27 52-Week Range 7.33 13.89 Volume 22.33 million shs Average Volume 27.80 million shs Market Capitalization 14.31 billion P/E Ratio N/A Dividend Yield N/A Price Target 10.
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