Meta Platforms, Inc. (NASDAQ:META) shares traded lower on Wednesday amid the company’s Connect 2023 Keynote.
What To Know: Buzz surrounding the company’s event caused the stock to dip. Among the highlights was the showcase of the Quest 3 VR headset. Supported by an advanced Qualcomm chip, the Quest 3 features such advancements as “pancake lenses” which improves image clarity. According to a report from CNBC, the Quest 3’s starting price will be $499.
As the company exhibits the new device, Apple Inc., Meta’s virtual reality rival, is preparing to launch its Vision Pro headset.
It is also worth noting that news of the departure of the company’s AI chief, Alexis Black Bjorlin, rattled the stock in addition to news of the event.
Guggenheim analyst Michael Morris maintained Meta Platforms with a Buy and raised the price target from $375 to $380 on Wednesday as well.
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META Price Action: Shares of META were up 0.13% at $298.14 in the after-hours session at the time of publication, according to Benzinga Pro.
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