Yahoo Finance
Citi is betting on a strong few months for Meta Platforms (META).
It kept its Buy rating and an $800 price target, and placed the stock on a 90-day upside catalyst watch.
The reason is Meta's Connect event on Sept.
23, where new AI products and hardware are expected.
Analyst Ronald Josey expects updates on Muse, Meta's new family of AI models, plus its next-generation models and smart glasses plans.
The analyst is confident that Meta's heavy AI spending will pay off due to faster product rollout and early Muse adoption.
The hardware will make the headlines as it often does.
Connect will be full of eye-catching reveals.
New Ray-Ban smart glasses are expected, which Meta calls one of the fastest-growing categories in consumer electronics history.
There will be plenty on Muse and the metaverse too.
But as I wrote before Meta's Hatch AI agent launch, the product itself is rarely where the money comes from.
Meta earns almost all its revenue from ads, so that is where the real payoff would show up.
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