The two-day Meta Platforms Inc (NASDAQ:FB) Connect developer conference kicks off at 1 pm ET Wednesday, and the company is widely expected to officially launch the Quest 3 virtual reality headset.
CEO Mark Zuckerburg touted the headset on Instagram in June, calling the $499 device “the first mainstream headset with high-res color mixed reality.” Reports suggest the Quest 3 will be available starting in October.
Meanwhile, analysts at Bank of America are watching for a variety of other announcements.
“The official launch of Quest 3 will be the highlight of the event and we would expect an update on [Meta’s VR game] Horizon Worlds, with an outside chance of a reveal of new AR glasses,” the analysts wrote.
“The event is intended to drive enthusiasm for Meta's platforms, so it is possible that the company will announce new development partnerships or metrics on Metaverse activity, and we expect several new content reveals (new games, etc.).
Looking ahead, BofA projects $901 million in Oculus Horizon Worlds revenue in the fourth quarter, which would represent roughly 2 million units at an average wholesale price of $450.
Elsewhere, the Wall Street Journal has reported that Meta plans to reveal a series of AI chatbots with different personalities. One, named “Bob the Robot,” boasts “superior intellect, sharp wit, and biting sarcasm," while “Alvin the Alien,” plays the part of an extraterrestrial crash landed on Earth.
There is also, apparently, an off-color bot personality named Gavin. Gavin reportedly gives misogynistic responses, including references to female anatomy, and makes fun of his creator Zuckerberg.
It’s worth noting that Meta has sunk an estimated $18.4 billion into the Metaverse this year, according to BofA.
“We think investors will focus on the following: does product progress justify unprecedented Metaverse platform investment,” the analysts wrote.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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