Can Meta's New $300 Glasses Turn Around the Stock?

Despite reporting its fastest quarterly growth since the pandemic in the first quarter, Meta Platforms (NASDAQ: META) has struggled this year.

The stock is down 17% year-to-date due to concerns about rising capital expenditures, layoffs, and artificial intelligence strategy that increasingly seems undisciplined.

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As a result, Meta stock is looking unusually cheap, trading at a forward P/E of just 17, which is dirt cheap for a company that just grew its revenue by 33%.

At this point, the company needs a catalyst to change its narrative, and it's hopeful that its latest iteration of smart glasses can help do that.

Meta has been building out its smart glasses business for years now, partnering with brands like Ray-Ban and Oakley.

At $299, the new Meta are $80 less than its previous entry-level glasses, and it's partnering with Ray-Ban parent EssilorLuxottica to make them, though they won't carry the Ray-Ban bran

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/metas-300-glasses-turn-around-025000108.html)