Analysts are positive on social media giant Facebook Inc (NASDAQ:FB) and Google's parent company Alphabet Inc (NASDAQ:GOOGL), as Facebook's Oculus Rift began delivering Oculus Rift virtual reality headsets today, and Google's much-awaited conference, GCP Next, ended on 24th March in San Francisco. In a research report issued today, Piper Jaffray's top analyst Gene Munster reiterated an Overweight rating on shares of Facebook, with a price target of 170, following the news that Facebook's virtual reality division Oculus has begun to ship the Oculus Rift virtual reality headsets in more than 20 countries. Munster commented, "We continue to see 2016 as a warm up year for VR and believe that the most important thing for 2016 is the development of compelling VR content. While immaterial to our model, we expect about 500k Oculus Rift units in 2016, which would represent about 1% of our overall Facebook revenue in 2016. More notably, we believe the availability of Oculus Rift should mark an inflection in investor optimism on the VR theme with real consumer products now in the market.
Everything IT professionals, IT managers, and businesses need to know about Google I/O 2016. Below you can find a summary of what was announced, along with a live blog of the event and our predictions prior to the event. Google stopped short of unveiling a new VR headset, as many had predicted, but one of the most eye-catching announcements was Daydream. Arriving this autumn, Daydream is billed as the VR platform for Android. Google is working with Android manufacturers to create devices that can run a high-end VR experience.
Palmer Luckey, co-founder of Oculus VR, demonstrates the new Oculus Rift headset during the "Step Into The Rift" event in San Francisco in June 2015. Palmer Luckey, co-founder of Oculus VR, demonstrates the new Oculus Rift headset during the "Step Into The Rift" event in San Francisco in June 2015. The much-hyped consumer virtual reality headset, Oculus Rift, is finally hitting the market. The reviews have been mixed. As The Wall Street Journal put it, "the first totally immersive home virtual reality rig is a pricey, awkward, isolating--and occasionally brilliant--glimpse of the future of computing."
Apple CEO Tim Cook appears on stage during the company's iPhone event in San Francisco. Augmented reality scored a huge supporter: Apple CEO Tim Cook. In an interview with ABC News, Cook says AR is the "larger of the two" segments because of its ability to keep people "present" while consuming the same experience. Sony enters the VR market -- already populated by rivals Oculus Rift and HTC Vive -- with an edge since it works with its video game console, PlayStation 4, which topped 40 million in sales.
Google announced at an event in San Francisco, CA on Tuesday the Daydream View, its first virtual reality headset for the Daydream VR platform, will begin shipping in November for 79. Google announced Daydream VR in May at Google I/O, and Tuesday's announcement marks the first hardware for the platform. Google is joining a race of hardware makers, including Samsung and Facebook, trying to make virtual reality mainstream. Daydream View, which pairs with the phone through NFC to beam content, uses a fabric cover for looks and comfort, a deviation from the plastic finishes we've seen from Google's competitors. Google said Daydream View will currently only work with its new Pixel smartphone lineup, also announced at the event.