Meta Connect 2026 Preview: Muse AI, New Smart Glasses in Focus as Wells Fargo Lifts Price Target to $796

Meta Platforms (NASDAQ: META) is poised to unveil its latest hardware and artificial intelligence strategy at its annual Connect conference, scheduled for September 23-24. The event is expected to feature significant updates on smart glasses, a new mixed-reality device, and the company's new AI agent, Muse, which is anticipated to be a central focus.

Ahead of the conference, Wall Street sentiment is turning more positive, with Wells Fargo raising its price target on Meta stock. The bank reiterated its "Overweight" rating and increased its target to $796 from a previous $640, implying approximately 19% potential upside from the most recent closing price mentioned in the source report. Wells Fargo noted that Meta's recent AI model releases and the early performance of Muse give the company a compelling "story to tell."

AI and Hardware in the Spotlight

This year's event is expected to shift focus from a purely virtual reality-centric theme to a broader integration of AI, augmented reality (AR), and wearable technology. Key announcements are anticipated across several product lines:

• Muse AI Agent: Unlike traditional chatbots, Muse is designed as a personal AI agent that can perform tasks on behalf of the user, such as sending emails or booking travel. Meta is expected to detail how Muse will integrate with its wearable devices, particularly smart glasses.
• Smart Glasses: A new generation of smart glasses is anticipated, with reports suggesting the development of a version without a camera. This design could alleviate privacy concerns and allow for a smaller form factor, relying on an increased number of microphones for voice interaction with the Muse AI.
• 'Phoenix' MR Device: A new, lightweight mixed-reality device codenamed "Phoenix" may also be unveiled. Leaked images suggest a design resembling large goggles, which could be significantly lighter than traditional VR headsets by offloading computing and battery components to a separate, wired module. The device is rumored to be one of the first to use Qualcomm's new Snapdragon Reality Elite chip.

Ad

Market Implications and Strategic Vision

The announcements at Connect are crucial for Meta's long-term strategy of building a post-smartphone computing platform. By integrating its AI agent directly into wearables, the company aims to create a new ecosystem for developers and users. The success of this strategy hinges on attracting third-party application developers to build for its smart glasses, an area where expansion has been gradual.

Analysts are closely watching the potential monetization of these new technologies. Oppenheimer analyst Jason Helfstein, cited in media reports, calculated that for Meta to generate approximately $28 billion in annual revenue from a potential $20-per-month Muse subscription, it would need around 115 million paying users. While Helfstein expressed caution about reaching such a scale, the calculation highlights the significant revenue potential Wall Street is beginning to model for Meta's AI initiatives.