SNAP is trading higher at $5.01 (+1.52%) as investors focus on the company's long-term augmented reality plans, brushing off a negative analyst rating.
- Stifel lowered its price target on the stock to $4.50 from $5.50, citing concerns over potential advertising budget cuts.
- Renewed focus comes from a new article detailing the upcoming AI-powered Spectacles, in partnership with Qualcomm, poised for a 2026 release.
- CEO Evan Spiegel also commented on the company's push to launch its AR glasses this year in a Business Insider interview published today.