Meta’s recent launch of AR glasses with an integrated display and built-in AI assistant looked modest on the surface. In reality, it marked the point where experimentation turned into execution.
Meta has been investing in smart glasses for more than seven years, giving it a meaningful head start. That lead is already visible in the data. By some estimates, Meta has captured about 73% of global smart glasses shipments in the first half of 2025, extending an already dominant position.
At Meta Platforms, smart glasses are no longer a futuristic side project. They are the company’s central long-term bet, and Meta has pulled ahead.
Key Points
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Meta already has a major lead in what Zuckerberg sees as the post-smartphone interface.
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Leading investors are buying Meta because they see a long-term platform shift, not just short-term ad growth.
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Meta’s highly profitable ad business and AI-driven growth make the valuation attractive before any hardware upside materializes.
Why Meta could resemble Apple in the next decade
The more ambitious step is Orion, Meta’s fully immersive AR glasses expected later this decade. Orion is designed to project digital content into both lenses, allowing navigation cues, translations, reminders, and AI prompts to appear naturally throughout the day.
The real differentiator is software. Meta plans to pair Orion with an advanced AI system that understands personal context, including location, activity, and intent.
As Mark has said, the most valuable AI will be personal intelligence that adapts to the individual. Glasses are the only device that can deliver that continuously.
The advantage most investors underestimate
Apple’s success came from controlling hardware, software, and distribution. Meta is attempting something similar, but with a crucial twist. It already controls one of the world’s largest social graphs and some of the richest behavioral datasets ever assembled.
That context matters. Smart glasses are only useful if they understand what is relevant in real time. Meta’s data advantage makes its AI more practical and more personalized, increasing the odds that its glasses become an everyday interface rather than a novelty.
Why the stock still works today
Investors do not need to believe in smart glasses to justify owning Meta today.
Meta remains one of the most profitable advertising platforms ever built. Its AI-driven recommendation systems continue to improve engagement and ad conversion across Facebook and Instagram, reinforcing a powerful network effect.
Wall Street expects earnings growth of roughly 17% annually over the next few years. The valuation looks reasonable on an earnings basis for a business with operating margins above 80% and global scale. Analysts’ see well over $800 per share in its future, suggesting meaningful upside even if Reality Labs takes time to mature.
The long view
If Zuckerberg is right and smart glasses become the primary interface for digital information, Meta becomes a hardware company, a software platform, and an AI ecosystem at once.
Meta is trying to define the 2030s through augmented reality. Investors who recognize that narrative early may benefit long before the technology feels inevitable.