Meta Platforms, Inc.

US30303M1027

Internet Services

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-24 pm EDT			After market 07:59:59 pm
493.5 ^USD	-0.46%		418.7	-15.16%

12:09pm	Canaccord Genuity Adjusts Meta Platforms' Price Target to $575 From $610	MT
12:08pm	Barclays Adjusts Price Target on Meta Platforms to $520 From $550	MT

Meta Teams With Qualcomm on Virtual-Reality Chipsets

September 02, 2022 at 08:27 am EDT

By Dean Seal

Meta Platforms Inc. and Qualcomm Inc. have signed a multi-year agreement to collaboratively develop customized virtual-reality chipsets.

The two tech giants said Friday that the deal would leverage Qualcomm's custom Snapdragon XR platforms for the Meta Quest platform in a bid to "accelerate a fully realized metaverse."

The companies have worked together on virtual-reality innovations for over seven years, including on the recent Meta Quest 2 virtual-reality headset.

"Unlike mobile phones, building virtual reality brings novel, multi-dimensional challenges in spatial computing, cost, and form factor," Meta Chief Executive Mark Zuckerberg said. "These chipsets will help us keep pushing virtual reality to its limits and deliver awesome experiences."

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

09-02-22 0826ET

Latest news about Meta Platforms, Inc.

Canaccord Genuity Adjusts Meta Platforms' Price Target to $575 From $610	06:09am	MT
Barclays Adjusts Price Target on Meta Platforms to $520 From $550	06:08am	MT
North American Morning Briefing : More Tech Earnings in Focus With GDP Data Adding to the Uncertainty	06:06am	DJ
Futures falter as Meta Platforms weighs on megacaps	06:03am	RE
ANALYST RECOMMENDATIONS : Meta Platforms, UPS, Boeing, Chipotle, Dell Technologies...	05:58am
Piper Sandler Adjusts Price Target on Meta Platforms to $545 From $600	05:55am	MT
Baird Adjusts Price Target on Meta Platforms to $500 From $525	05:36am	MT
Seaport Adjusts Price Target on Meta Platforms to $500 From $510	05:36am	MT
RBC Capital Adjusts Meta Platforms' Price Target to $570 From $600	05:36am	MT
Wolfe Research Adjusts Meta Platforms' Price Target to $500 From $530	05:35am	MT
Roth MKM Adjusts Meta Platforms' Price Target to $510 From $500	05:35am	MT
JMP Securities Adjusts Meta Platforms' Price Target to $525 From $550	05:34am	MT
Jefferies Adjusts Meta Platforms' Price Target to $540 From $585	05:33am	MT
Goldman Sachs Adjusts Meta Platforms' Price Target to $500 From $555	05:31am	MT
Citigroup Adjusts Meta Platforms' Price Target to $550 From $590	05:30am	MT
JPMorgan Adjusts Meta Platforms' Price Target to $480 From $535	05:30am	MT
CAC40: down slightly on an avalanche of results	05:22am	CF
Redburn Atlantic Adjusts Price Target on Meta Platforms to $475 From $500	05:21am	MT
TD Cowen Adjusts Price Target on Meta Platforms to $530 From $590	05:21am	MT
European Midday Briefing : Mood Cautious Ahead of More U.S Tech, Key Data	05:20am	DJ
AI spending worries cast gloom over Alphabet, Microsoft	05:00am	RE
Anglo American jumps on takeover bid from BHP	04:14am	AN
META : Barclays gives a Buy rating	04:13am	ZD
IBEX 35 awaits US inflation figures as it digests Meta disappointment	03:27am	RE
News Highlights : Top Company News of the Day - Thursday at 3 AM ET	03:15am	DJ

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Company Profile

Meta Platforms, Inc. specializes in online social networking services. Net sales break down by activity as follows: - operation of social networking, messaging, photo and video sharing platforms (98.6%): operation of the Facebook, Instagram, Messenger, Threads and WhatsApp platforms (3.98 billion monthly active users in 2023) ; - sale of virtual and augmented reality products, software and devices (1.4%): virtual reality headsets (Meta Quest), connected screens (Facebook Portal), wearable devices, etc. Net sales break down by source of income into advertising spaces (97.5%) and other (2.2%). Net sales are distributed geographically as follows: the United States and Canada (39.2%), Asia-Pacific (26.8%), Europe (23.1%) and other (10.9%).

Sector

Internet Services

Calendar

2024-05-29 - Annual General Meeting

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S&P 500

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Analysis / Opinion

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ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

493.5 USD

Average target price

541.2 USD

Spread / Average Target

+9.67%

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Quarterly earnings - Rate of surprise

Company calendar

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Social Media & Networking

Meta Platforms, Inc.

Equities

META

US30303M1027

Internet Services

Meta Teams With Qualcomm on Virtual-Reality Chipsets

EPS Revisions