Meta Could Corner The Augmented Reality Market With Smart Glasses

Summary:

• Meta Platforms has a long-term growth opportunity with augmented reality glasses. Orion has the potential to disrupt the market like the iPhone.
• If priced between $700 and $1,200, Orion and future augmented reality models from Meta could capture market share from the traditional smartphone market.
• I have a 2034 price target of $1,705 for Meta, reflecting an 11% CAGR. When discounting this back to the present day, the stock appears slightly overvalued.

Since my last analysis of Meta (NASDAQ:META), in which I assigned a Hold rating, the stock has lost -0.2% in price. I consider the valuation to still be extended, and I am expecting a near-term decline due to this. However, in the long

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