Snap is betting its AR hardware can evolve beyond photography into a broader computing platform.
- Snap’s AI assistant can connect with apps such as Gmail and Slack to anticipate tasks and surface relevant information.
- Specs glasses feature a 51-degree field of view, hand tracking, navigation, translation and video streaming.
- Retail sentiment around SNAP turned ‘extremely bullish.’
Snap Inc. unveiled its new Specs Intelligence AI assistant and showcased its forthcoming Specs augmented reality glasses at an event Wednesday, positioning the wearable as a new type of computing device rather than another pair of smart glasses.
SNAP shares rose 2% in overnight trading after closing 1.9% lower in Wednesday’s regular session.
Specs Intelligence is designed as an “anticipatory AI service” that understands users’ data across connected apps and surfaces relevant information without waiting for a prompt. Snap said the assistant can, for example, prepare a user for an upcoming meeting or pull together flight, hotel and dinner plans while flagging work deadlines during a trip.
The service can connect to applications including Gmail and Slack and will be available through the Specs glasses as well as on iPhone and Mac.
Hands-On With Snap Specs
Snap gave reporters and fans a hands-on experience with Specs, the steeply priced AR glasses the company announced in June. At the time, SNAP stock had fallen sharply as investors were underwhelmed by the over-$2,000 price tag and the company’s investment in a hardware category with limited adoption.
Bloomberg reported the glasses felt mostly comfortable but remained noticeably heavier than conventional eyewear. The glasses feature a 51-degree field of view and are fully untethered, with computing components contained within the frames.
Users can bring up the interface by looking at an open palm and use hand tracking to navigate. Specs can also stream video from services including YouTube and HBO Max, overlay navigation directions, provide live translation in up to 60 languages, and create a virtual secondary display.
Snap is pricing Specs at $2,195, while a $2,395 version includes a cellular-connected carrying case through a partnership with Verizon.
CEO Evan Spiegel said the goal is to demonstrate that Specs is “a computer, not a pair of smart glasses for taking photos,” with potential applications including field-service assistance and workplace tools.
Retail View On SNAP
SNAP was among the top trending tickers on Stocktwits at the time of writing, with the retail sentiment shifting to ‘extremely bullish’ from ‘bullish’ the previous day.
“$SNAP i don’t have any faith in this stock, i would not be surprised if it has a mini sell off tomorrow,” a trader wrote.
Another posted a contrarian view: “don’t let any news confuse you. This is groundbreaking tech. If it’s not then I don’t know what is. It cannot be remade easily and does things nothing else can do.”
SNAP stock has declined over 29% year to date.
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