nemke
Meta Platforms (NASDAQ:META) has doubtless minimize its cargo forecast for the Quest 3 combined actuality headset by as much as 10% on account of lower-than-expected demand, a broadly watched analyst stated on Friday.
In a blog post, TF Worldwide Securities analyst Ming-Chi Kuo stated he thinks Meta minimize its cargo forecast between 5% to 10% and shipments for the first-quarter of 2024 will doubtless “decline considerably” quarter-over-quarter.
He added that Apple’s (NASDAQ:AAPL) Imaginative and prescient Professional, which is slated to launch “early subsequent yr” is “not less than” between two to a few years forward of the Quest headset on a technical foundation. As such, although the gadgets are focusing on totally different shoppers, it is doubtless that the Imaginative and prescient Professional’s “clear experiential benefit will affect shoppers’ buy intentions for the Quest.”
Meta didn’t instantly reply to a request for remark from Searching for Alpha.
The brand new Quest 3 headset was formally introduced at Meta’s Join developer convention in September after it was first previewed in June. The brand new headset will value $499, up from the $300 Quest 2, and incorporates each digital and augmented realities, one thing that Apple’s (AAPL) upcoming Imaginative and prescient Professional incorporates.
The $3,499 Imaginative and prescient Professional was unveiled in June at Apple’s (AAPL) developer convention, marking its largest entry into a brand new product space in almost a decade.
In September, Kuo said he was anticipating 2024 shipments of the Imaginative and prescient Professional to be between 400,000 and 600,000, properly blow the expectation of some within the market for 1M items. He additionally prompt that Apple (AAPL) might have already canceled the low-cost model of the Imaginative and prescient Professional for 2025 and pushed it again to 2027 “on the newest.”
In July, it was reported that Apple (AAPL) had minimize its manufacturing forecast for the Imaginative and prescient Professional amid producer struggles.
Apple (AAPL) CEO Tim Cook dinner stated final month the Imaginative and prescient Professional is on monitor to be launched in early 2024 and that he’s utilizing it regularly.
Meta (META) shares rose greater than 3% on Friday whereas Apple (AAPL) gained greater than 1%.