Facebook (FB): Killer App Remains Elusive - Macquarie
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Macquarie analyst, Ben Schachter reiterated his Outperform rating on shares of Facebook (NASDAQ: FB) after attending the Oculus Connect developer conference. The analyst believes that the technology showed incremental steps forward, but nothing jumped out as a big leap ahead.
Oculus and VR is taking steps forward to be more immersive and user-friendly while bringing down the cost-to-own. The technology was interesting but mostly incremental. Oculus Touch controllers will launch December 6 at a price of $199 which brings head-tracking to the Rift. First-person shooter games will launch alongside the Touch controllers and while impressive, almost all the demos were games. The use cases for VR in enterprise, healthcare and others is broadening out from games more slowly than expected.
No change to the price target of $155.
Shares of Facebook closed at $128.74 yesterday.
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