Home BusinessEconomic News Stocks give up early gains as yields, oil continue rise: Stock market news today

Stocks give up early gains as yields, oil continue rise: Stock market news today

by Stella Morgan

Tech giant Meta made waves recently with the announcement of its newest headset technology, the Meta Quest 3. While the news generated excitement among users and potential investors, Meta’s stock took a slight hit, decreasing by about 2%. Despite this setback, Meta’s CEO, Mark Zuckerberg, unveiled not only the Quest 3 but also the Ray-Ban Meta smart glasses at the Meta Connect conference.

Both devices mark significant steps for Meta in its quest to establish itself as a metaverse-first company. The Quest 3 showcases how Meta plans to merge the virtual and physical worlds, while the smart glasses demonstrate the company’s ability to incorporate high-end technology into a lightweight and stylish pair of glasses.

However, Meta’s ambition comes at a high cost. The company’s Reality Labs segment consistently reports billions of dollars in losses each year, with the most recent quarter showing a loss of $3.7 billion. For Meta to realize its vision of becoming a metaverse company, the success of these new headsets is crucial.

Fortunately, early previews of both the Quest 3 and smart glasses have been promising. The Quest 3, priced at $499, introduces several upgrades over its predecessor, including a slimmer design and sharper visuals. On the other hand, the $299 Ray-Ban Meta smart glasses boast an enhanced look and improved cameras for better photo and video capture. The Quest 3 hits both online and physical stores on October 10, while the smart glasses go on sale on October 17.

The Quest 3 stands out from previous iterations of Meta’s Quest headsets by offering both virtual reality (VR) and augmented reality (AR) capabilities. The improved passthrough mode on the headset allows users to interact with digital objects seamlessly integrated into the real world. In one demo, the experience appeared as if an alien ship crashed through the ceiling and additional aliens broke through the walls, revealing an alien world. Overall, the visuals were vibrant and detailed, with the Quest 3 boasting a 30% improvement in display resolution compared to the Quest 2.

Despite these advancements, the graphics on the Quest 3 still fall short of what is achievable on modern game consoles or high-end PCs. Additionally, with a price tag of $499, the Quest 3 faces tough competition from established gaming platforms like Sony’s PlayStation 5 and Microsoft’s Xbox Series X. Both consoles offer impressive game libraries and have established themselves in the market.

As Meta continues its push into the metaverse, it will need to address these challenges and convince consumers of the unique experiences its headsets can provide. The success of the Quest 3 and smart glasses will determine Meta’s ability to compete with other technology giants and secure its position as a metaverse leader.

related posts