Today Facebook Inc. began shipping their Oculus VR headsets. The company is selling VR sets for $599 through www.oculus.com. If you want to read a little bit about the technology there is a interesting tech blog post highlighting some of the development challenges. If you are wondering I will not be purchasing a set. Although I think it would be very cool to try. The goal is to create an ecosystem where all things FB can be integrated into your gaming world.
Evercore also released a price target hike today. The shares were given a $150 price target that would imply a value of around $430 billion. While I'm a skeptic by nature that price seems a little high despite how badly I want shares to get there for obvious reasons. Either way the analyst cited strength in the Facebook's Messenger App and WhatsApp. I agree that there is a lot of strength to be found within these two products. Although I think monetizing these apps is another 1-2 years away as the company in the past year abolished the $1/yr WhatsApp renewal fee.
I'm going to remain patient until the shares are more reasonably valued. I might be waiting awhile, but one thing I have learned is that it is never good to chase a stock after an impressive run. You never know where the top might be.
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