Today's video focuses on Meta Platforms (META -1.16%), formerly known as Facebook, and how this could be the best quarter for Oculus, its virtual reality hardware. Here are some highlights from the video.
- The Oculus 2 reached new heights during the holiday season. It has become one of the top sellers under the video game category on Amazon (AMZN -1.90%), it was a top daily downloaded app for both Apple (AAPL -0.91%) and Alphabet's (GOOGL -1.48%) (GOOG -1.53%) Google, as reported by App Annie, and has also reached a historical peak Google search level.
- Investors should remember that virtual reality hardware is still a small portion of Meta's revenue. In its most recent quarter, it reported total revenue of $29 billion; $734 million came from its non-advertising products, including virtual reality hardware sales.
- Taking a quick look through social media, one can see numerous Oculus headsets gifted during the holidays. Game developers have also shared robust positive user data during the weekend and reported the growth of new users.
Click the video below for my full thoughts and analysis.
*Stock prices used were the market prices of Dec. 27, 2021. The video was published on Dec. 27, 2021.