Social media and technology company Snap Inc. (SNAP) is planning to release a sixth-generation of its augmented reality smart glasses in 2026.
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The company behind the Snapchat social media platform is calling its next-generation smart glasses “Specs,” which is different from the company’s previous “Spectacles” branding that was used for its wearable devices. The new smart glasses will employ augmented reality technology that lets people see and interact with digital imagery overlaid on the real world.
Snap has not provided a price or launch date for its new smart glasses, but did say they will be smaller and lighter than their predecessors. Snap’s most recent smart glasses were released in September 2024 to developers only. The new glasses will run on the company’s Snap OS operating system.
AI Options
Snap added that it is incorporating Google’s (GOOGL) Gemini AI models into programs they develop for the smart glasses, giving coders more AI options to choose from as they write software for the device. Previously, developers could only use privately held OpenAI’s AI models to build augmented reality apps for the smart glasses.
Snap launched its first smart glasses in 2016 at a cost of $130. Those glasses were limited to simple features like helping users film videos that they could 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 in 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 among 31 Wall Street analysts. That rating is based on six Buy, 24 Hold, and one Sell recommendations issued in the last three months. The average SNAP price target of $9.68 implies 12.95% upside from current levels.
Read more analyst ratings on SNAP stock
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