Meta Launches $299 AI Glasses; Chip Stocks See Upgrades

Meta Platforms ($META), in partnership with EssilorLuxottica, launched a new line of AI smart glasses starting at $299, according to a Reuters report on June 23. The new price represents a significant reduction from prior smart glasses offerings, marking Meta's push into more accessible AI-powered wearable devices. Silicon Valley's AI sector is experiencing workforce restructuring, with high-flying roles at $META, Google, and Amazon facing headcount reductions according to industry reporting.

Astera Labs ($ALAB) received a price target increase from Stifel on June 24, raising the target from $260 to $460 while maintaining a Buy rating. The stock has gained approximately 25% over the past month, propelled by its inclusion in a major index. Intel Corporation ($INTC) saw Bank of America Securities raise its price target from $135 to $160 on June 23, maintaining a Buy rating as the firm updated its semiconductor industry models and price objectives. Apple ($AAPL) is lobbying the Trump administration for clearance to buy memory chips from ChangXin Memory Technologies, a Chinese company on the Pentagon blacklist.

ServiceNow ($NOW), Workday ($WDAY), Adobe ($ADBE), and Salesforce ($CRM) saw gains as enterprise software stocks rebounded on weakening OpenAI competitive threats. $NOW rose nearly 10% and was among the top gainers in the S&P 500. The enterprise software segment appears to be stabilizing after concerns over generative AI disruption pressured valuations in recent periods.

Netflix ($NFLX) received a Market Perform rating reiteration from Citizens on June 18 without disclosed price targets, while Bernstein maintained a Buy rating on June 23 with a $110 price target. Analyst positioning reflects ongoing debate over streaming monetization and subscriber growth trajectory amid intensifying competition in the digital entertainment space.

US equity investors will focus this week on Big Tech share performance amid awaited nonfarm payrolls data and a speech from Warsh, according to market commentary. Semiconductor sector momentum depends on continued enterprise AI infrastructure spending and resolution of US-China chip supply chain tensions. Enterprise software names face continued scrutiny over the competitive impact of large language model providers entering traditional SaaS categories.