Introduction to Snap Inc.’s New Smart Glasses
Social media and technology company Snap Inc. (SNAP) is planning to release a sixth-generation of its augmented reality smart glasses in 2026. The company behind the Snapchat social media platform is looking its next-generation smart glasses “Specs,” which is different from the corporate’s previous “Spectacles” branding that was used for its wearable devices.
Features of the New Smart Glasses
The recent smart glasses will employ augmented reality technology that lets people see and interact with digital imagery overlaid on the actual world. Snap has not provided a price or launch date for its recent smart glasses, but did say they might be smaller and lighter than their predecessors. Snap’s most up-to-date smart glasses were released in September 2024 to developers only. The recent glasses will run on the corporate’s Snap OS operating system.
AI Options for Developers
Snap added that it’s incorporating Google’s (GOOGL) Gemini AI models into programs they develop for the smart glasses, giving coders more AI options to select from as they write software for the device. Previously, developers could only use privately held OpenAI’s AI models to construct augmented reality apps for the smart glasses.
History of Snap’s Smart Glasses
Snap launched its first smart glasses in 2016 at a value of $130. Those glasses were limited to easy features like helping users film videos that they may post to Snapchat. The company updated its glasses with augmented reality displays in 2021 that allow users to see virtual imagery overlaid on the physical world.
Competition within the Smart Glasses Market
Competition within the smart glasses and augmented reality space is heating up, with Apple (AAPL) and Meta Platforms (META) offering competing devices. Google recently announced its own entry into the space through a $150 million partnership with eye glass maker Warby Parker (WRBY).
Is SNAP Stock a Buy?
The stock of Snap Inc. has a consensus Hold rating amongst 31 Wall Street analysts. That rating is predicated on six Buy, 24 Hold, and one Sell recommendations issued within the last three months. The average SNAP price goal of $9.68 implies 12.95% upside from current levels.
Conclusion
In conclusion, Snap Inc.’s recent smart glasses, "Specs," are set to revolutionize the augmented reality space with their advanced features and AI options. With competition heating up within the smart glasses market, it’ll be interesting to see how Snap Inc.’s recent device performs. As for the stock, it has a consensus Hold rating, but the typical price goal implies a possible upside, making it price considering for investors.
