I just got an advanced peak of Google's 2026 smart glasses lineup and there's a lot to take in. It also tells you what the state of smart glasses is right now. This is all things mobile.During a demo with Google just a week ago, I got a chance to take a look at smart glasses that did some things that blew my mind. One was I used Google Maps to get turnbyturn directions and I looked down and I saw the map spread out in front of me. I also got live translation on the glasses that autorecognized the language a ...

Core Insights - Meta Platforms is making significant budget cuts to its metaverse division, acknowledging that its previous focus on the metaverse was misguided and costly [1][5][11] - The company plans to reduce its metaverse budget by up to 30%, which is expected to save billions annually [6][11] - Meta's Reality Labs division has incurred substantial losses, with a reported loss of $13.2 billion in 2023 and $17.7 billion for the full year [3][11] Financial Performance - Meta's Reality Labs generated only $1.3 billion in revenue while incurring losses of $13.2 billion in 2023 [3] - The company's stock saw a positive reaction, increasing by several points following the announcement of budget cuts [6] - Since the layoffs in November 2022, which affected 11,000 employees, Meta's stock has increased over 500%, indicating a successful shift in strategy towards profitability [10] Strategic Shift - The cuts will affect products like Horizon Worlds and the Quest virtual reality unit, with layoffs expected as early as January [7] - This strategic pivot reflects a realization that technology must be useful to succeed, moving away from Zuckerberg's previous vision of the metaverse [7][12] - The company aims to redirect resources towards more practical applications, particularly in AI and other startup projects [12]

Core Viewpoint - Alphabet is positioned as a leading AI stock for the next decade, potentially surpassing competitors like Nvidia, Tesla, and Meta due to its comprehensive involvement in various AI sectors [2][7][14] AI Ecosystem - AI encompasses a wide range of technologies, with large language models (LLMs) being a significant focus since the launch of ChatGPT [4] - Cloud platforms play a crucial role in AI development, with Nvidia's GPUs being the standard for AI model deployment [5] Alphabet's Strengths - Alphabet's Google Gemini 3.0 is recognized as a powerful LLM, enhancing its position in AI model development [8] - Google Cloud is experiencing rapid growth in AI applications, outpacing larger competitors like AWS and Azure [9] - Alphabet's Waymo unit is leading in the robotaxi market, providing services in five cities and planning to expand to twelve more, including London [10] - The company is also developing humanoid robots through its Gemini Robotics models in collaboration with Apptronik [10] Future Innovations - Alphabet is integrating AI into smart glasses through a partnership with Warby Parker, and aims to develop artificial general intelligence (AGI) by 2030 [11] - Google Workspace tools are being enhanced with agentic AI, and the company is working on a universal AI assistant [12] Investment Proposition - While smaller companies may outperform Alphabet in stock performance over the next decade, Alphabet is viewed as offering the best overall risk-reward proposition in the AI sector [14]

Meta is scaling back its metaverse spending and redirecting resources toward AI-powered glasses and wearable devices, marking one of the company’s most significant strategic pivots in years. Key Takeaways: Meta is cutting metaverse spending as it shifts focus to AI-powered wearables. VR platforms like Horizon Worlds have stalled, while smart glasses are gaining traction. The pivot aligns with a broader industry move toward lightweight, AI-integrated devices. The shift comes as investor skepticism ...

Core Viewpoint - Meta is shifting its focus from metaverse projects to AI-powered glasses and wearable technology, indicating a strategic pivot in resource allocation [1][2][5]. Group 1: Strategic Shift - Meta plans to reduce investment in its metaverse division, Reality Labs, by reallocating resources towards AI glasses and wearables due to positive momentum in that area [2][5]. - Reports suggest that Meta could cut as much as 30% from its metaverse group as part of its 2026 budget planning, potentially leading to layoffs as early as January [5]. Group 2: Financial Impact - Investors reacted positively to the news, with Meta's shares increasing by 4%, reflecting relief over the company's decision to scale back on its costly metaverse initiatives, which have incurred losses exceeding $60 billion [5]. - The company has committed up to $65 billion in capital expenditures for the year, while the broader tech industry is expected to invest around $400 billion in AI by 2025 [10]. Group 3: Market Position - Meta has encountered difficulties in promoting its immersive metaverse vision beyond the gaming community, but has seen early success with its smart glasses, prompting the resource shift [8]. - Competitors like Google, Apple, and Snap have struggled to convert their initial products into commercially viable offerings, highlighting Meta's potential advantage in the wearable tech segment [8].

Alibaba began sales of its first smart glasses powered by its Qwen AI models, marking a rare foray into consumer hardware https://t.co/7BUkOxTIKA ...

I actually really like the live captions and the translate. I wish they worked a little bit better because in my demo I was like, "This is amazing." And in real life, I was like, "Oh, there's a lot of scenarios where this is actually a little finicky." >> How are they supposed to work. >> So, when you're in a conversation with someone, they just live caption what you're saying.And so, like, I'm I've used them in various situations. And if you're hard of hearing or you're in a loud room, that can be really u ...

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $3.17 billion, a decline of 2% year-on-year but an increase of 8% sequentially [5][12] - Non-GAAP operating margin was above 34%, down 170 basis points year-on-year but 10 basis points above the midpoint of guidance [5][14] - Non-GAAP earnings per share were $3.11, a penny better than guidance [6][12] - Total debt at the end of Q3 was $12.24 billion, up $757 million sequentially, while cash balance increased to $3.95 billion [15][16] Business Line Data and Key Metrics Changes - Automotive revenue is expected to increase mid-single digits year-on-year and low single digits sequentially in Q4 [8] - Industrial and IoT revenue is projected to rise in the mid-20% range year-on-year and 10% sequentially [8] - Mobile revenue is anticipated to grow in the mid-teens year-on-year and mid-single digits sequentially [9] Market Data and Key Metrics Changes - Distribution inventory remained flat at nine weeks, below the long-term target of 11 weeks [7] - The company noted that inventory levels of NXP-specific products at major Tier 1 partners are below manufacturing cycle time, indicating cautious inventory management in the automotive supply chain [7][9] Company Strategy and Development Direction - The company has closed acquisitions of Kinara and Aviva Links, expecting material revenue impact in 2028 and beyond [10] - The strategy remains focused on product innovation and disciplined investment to drive profitable growth [11][20] - The company aims to consolidate manufacturing and invest in joint ventures to enhance supply resilience and competitive cost structure [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in company-specific growth drivers and signs of cyclical recovery in automotive and industrial markets [9] - There is no expectation of direct customer inventory restocking in the near term due to macroeconomic uncertainties [9] - The company anticipates Q4 revenue to be $3.3 billion, reflecting a 6% year-on-year increase and a 4% sequential increase [18] Other Important Information - The company paid $256 million in cash dividends and repurchased $54 million of shares during Q3, representing a total shareholder return of $2.05 billion [16] - The cash flow from operations was $585 million, with non-GAAP free cash flow at $509 million or 16% of revenue [17] Q&A Session Summary Question: What improved in the last 90 days regarding guidance? - Management noted that risks did not materialize and order books remain strong, particularly in industrial and IoT [24] Question: What is the impact of inventory levels on revenue? - Management indicated that one week of inventory equals approximately $100 million, but emphasized strategic management of channel inventory [26] Question: Are you comfortable with seasonal trends for Q1? - Management suggested modeling Q1 with a high single-digit decline based on historical seasonality [34] Question: What is the outlook for gross margins? - Management expects gross margins to improve due to higher revenues and operational efficiencies, despite some unfavorable product mix [35] Question: How is the automotive sector performing? - Management highlighted strong growth in the automotive sector driven by software-defined vehicles and core growth drivers [66] Question: What is the situation in the China auto market? - Management reported that the China auto market remains strong with lean inventory levels and good customer traction [93]

Summary of Conference Call Notes Industry Overview - **Industry**: China Technology & Communications - **Key Focus**: Increasing interest in China tech from institutional investors in the US and EU, particularly in AI supply chain beneficiaries and related technologies [1][1] Core Insights and Arguments 1. Investor Sentiment - There is a growing interest among long-only (LO) investors in quality tech names listed on the H-share market, which is expected to attract more attention and fund flows [1][1] - Investors are cautious about the overly bullish market outlook on the US$2.5 trillion capex from OpenAI, indicating potential risks [1][1] 2. AI Supply Chain - Key discussion topics included: - Optical transceivers and their future scale-up potential - AI-PCB content upgrades and supply-demand dynamics - Foldable iPhone beneficiaries and potential volume impacts - Xiaomi's market entry and its recent effects - Visibility on China AI capex and AI chips support [1][1] 3. Stock Picks - The stock picks for the second half of 2025 remain unchanged, focusing on: - Optical transceivers (Innolight) - PCB with content upgrades (Victory Giant Tech) - ODM with rising demand in AI server/switch (FII) [1][1] 4. China AI Demand - Investors are interested in Alibaba's capex for a 10x capacity datacenter expansion and the availability of AI chips in China [1][1] - China is seen as a strong competitor to the US in AI development, although challenges remain in AI chipsets [1][1] 5. Company-Specific Insights - **GDS/VNET**: Viewed as disappointing by foreign investors due to share price volatility, despite potential benefits from China AI capex [1][1] - **Xiaomi**: Investors are concerned about the impact of smartphone memory prices and the company's ability to secure MP permits for its factories [5][5] - **Smart Glasses**: Increasing interest noted, with major beneficiaries being Goertek and Sunny Optical, as smart glasses are seen as key AI edge devices [6][6] 6. Semiconductor Localization - The 7nm-equivalent wafer capacity is expected to support local AI chip demand, but local lithography tools may only support up to 14nm [7][7] - Memory expansion is anticipated to accelerate in 2026 due to advancements in stacking etching tools [7][7] 7. AI Monetization - The monetization of AI in the consumer segment (ToC) is challenging, while the business segment (ToB) is more selective [8][8] - Kingdee remains a major interest for foreign investors, alongside cybersecurity and AI software companies like Iflytek and Sensetime [8][8] Additional Important Points - The potential for breakthroughs in AI chips in China remains uncertain, with existing capacities needing to be fully utilized first [1][1] - The foldable iPhone's BOM cost is projected to increase, with a potential retail price of over US$2500 [4][4] - Xiaomi's stock is expected to trade within the HK$45-50 range in the near term, with catalysts including increased EV delivery and new product launches [5][5] Companies Mentioned - **Alibaba Group Holding (BABA)** - **Apple, Inc.** - **Xiaomi Corp.** - **GDS Holdings** - **Sunny Optical Technology Group** - **Goertek** - **Iflytek** - **Innolight** - **Victory Giant Tech** - **Meta Platforms Inc.** - **NVIDIA Corp.** [10][10]

There's been times where having a smartphone in our hand wasn't normal. But I'm I'm just wondering what Apple could do. So maybe people go, "Oh yeah, I do want tech on my face." Because I don't know if we're there yet.>> It's like some everything gets weird until suddenly everyone's doing it sometimes. I think about AirPods. Like I remember way back when I wore AirPods the first time.It was a meme. Everyone thought it was absurd. Um they were like, "Get those cigarette pods out of your ears and then everybo ...