Roth MKM analyst Rohit Kulkarni keeps a Buy rating and $550 price target on Meta Platforms after attending the company’s Connect conference keynote by CEO Zuckerberg. The key event was marked by Zuckerberg showing off AR prototype glasses after working on them for 10 years, and with 50% of Reality Labs’ spend having been earmarked to AR, the next couple of years could see slower growth in incremental spend, the analyst tells investors in a research note. The firm further notes that 2024 could also mark a “peak” segment operating loss margin year for Reality Labs.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Wearable Devices ‘applauds’ Meta’s entrance into gesture control space
- Meta making encouraging progress along AI product roadmap, says Wedbush
- Meta Platforms price target raised to $811 from $643 at Rosenblatt
- Musk’s SpaceX Plans $1.5B Investment in Vietnam
- Meta Platforms price target raised to $605 from $530 at Baird