Meta Platforms (NASDAQ:META) made key revelations of their advancement into the virtual reality (VR) space on Tuesday. The Facebook parent released its advanced VR headset, Quest Pro, in an effort to address the needs of computing professionals for cutting-edge VR technology. The company also announced partnerships with Microsoft (NASDAQ:MSFT) and Zoom Video Communications (NASDAQ:ZM) to enhance the use of its VR workspaces.
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The headsets are priced at $1,500 and are powered by Qualcomm’s (NASDAQ:QCOM) new VR-optimized Snapdragon XR2+ processor. The device, which starts shipping on October 25, aims to build a highly engaging and collaborative environment for business meetings and gatherings.
This apart, Meta will also integrate Microsoft’s Windows 365 and Teams into its VR headsets in 2023. Among other things, this will enable users of Meta’s VR headsets to join Teams meetings as virtual avatars.
Moreover, Meta’s similar partnership with Zoom entails the ability of Quest headset users to join Zoom calls using Horizon Workrooms as virtual avatars of themselves. This integration is also set to complete in early 2023.
With the new introduction and enhancements, Meta is aiming to replace personal computers (PCs) as the most efficient way to work. Meta CEO Mark Zuckerberg believes that VR will reach its full potential when the millions of people who buy PCs can carry out all the work in the metaverse through VR devices.
What is Meta Stock Prediction?
Wall Street has a Moderate Buy consensus rating on the META stock and an average price target of $209.67 which indicates a 63.12% upside to the current price.
