Meta Platforms Stock (NASDAQ:META) Slips on New Smart Glasses, AI Logs
The Oakley Meta HSTN glasses—a co-production of social media giant Meta Platforms (META) and EssilorLuxottica—recently emerged, as Meta continues a practice of trying to take on the wearable tech market, which some thought was dead, or sufficiently full to where it no longer mattered. But that, and an unexpected new connection to artificial intelligence, left investors cold. Meta shares slid fractionally in Friday afternoon's trading.
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The Oakley Meta HSTN glasses—which I am assured, amazingly, is pronounced how-stun—is the first step beyond the Ray-Ban brand, reports note. The new glasses will draw on the PRIZM Lens technology Oakley is known for, which delivers different responses to various weather conditions and light levels. Plus, the HSTN line has improved battery life over its predecessors as well as a better camera.
Plus, the HSTN glasses will pack a connection to the Meta AI digital assistant, which allows for a range of functions, starting with recording videos on command or retrieving weather data. The HSTN glasses are water resistant—which means they cannot be immersed to a specific depth, but will do just fine against rain and sweat—and offer several frame color choices for aesthetics. There is even a 'limited-edition' version that offers gold lenses, but will cost $499.
Be Careful What You Ask That AI
But then, a more disturbing revelation emerged about Meta and its connection to AI. Meta's AI system as a tab known as 'Discover,' which apparently keeps track of what people ask Meta. And then, reveals that to other people. That is all fine and well when you want Meta AI to make you a picture of an '…adorable Maltese dog (that) becomes a heroic lifeguard,' but if you're like one guy who asked about countries were '…younger women like older white men,' it may not be the kind of thing you want known. And the discussion topics get worse and weirder from there; don't ask about the poor Nigerian fellow who developed a rash somewhere on his person after shaving.
The list goes on; Specific medical issues are discussed, discussion on crimes committed, extramarital affairs, and even specific home addresses are given. And this is leading to a growing number of users calling for the Discover tag to be removed. While text prompts were apparently pulled for a while, subsequent reports noted they returned later.
Is Meta Platforms a Buy, Sell or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 42 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 40.62% rally in its share price over the past year, the average META price target of $707.16 per share implies 2.59% upside potential.
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