Meta Platforms (META) is clearly having its shining artificial intelligence moment with Muse's solid supply-side momentum from expanding partnerships and the launch of new hardware form factors with a handheld device and improved VR glasses, RBC Capital Markets said in a research report emailed Thursday.
As Meta introduces Muse to Apple's (AAPL) Mac devices, management highlighted at the annual Meta Connect event that it is prioritizing privacy with a layered approach where virtual machines keep data on the user's own machine, analysts wrote.
The brokerage said it is interesting how Muse could play a role in pre-validating products for latent demand that only Meta's models could see.
The brokerage added that it reiterated its outperform rating on the stock and price target of $770 per share.
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