Snap Inc.’s (NYSE:SNAP) latest augmented reality glasses are facing sharp criticism from investor Ross Gerber, who questioned both the product’s design and CEO Evan Spiegel’s long-term hardware strategy following the device’s debut.
Snap’s New Specs AR Glasses Draw Criticism
Snap unveiled its new Specs AR glasses on Tuesday, opening preorders with a refundable $200 deposit ahead of expected fall shipments in the U.S., U.K. and France.
The glasses carry a $2,195 price tag.
The pricing puts Snap’s Specs below Apple Inc.’s (NASDAQ:AAPL) Vision Pro, which starts at $3,499, but well above Meta Platforms, Inc.’s (NASDAQ:META) smart glasses, available from $224.
According to Snap, the device offers up to four hours of mixed-use battery life, while its charging case provides three additional charges, extending total usage to roughly 20 hours.
The company said the glasses use its proprietary display technology and can deliver a viewing experience comparable to a 24-inch desktop monitor or a 115-inch screen viewed from 10 feet away.
Despite those specifications, some market observers were unimpressed.
Ross Gerber, Shay Boloor Question Consumer Appeal
Futurum Equities Chief Market Strategist Shay Boloor shared a video of Spiegel demonstrating the glasses and criticized the launch on X.
“$SNAP CEO Evan Spiegel just showed off the new Specs AR glasses for the first time,” Boloor wrote. “This is the kind of product reveal that explains how a social media company can be down over 90% during one of the best tech bull markets in history.”
Gerber, president and CEO of Gerber Kawasaki, amplified the criticism by reposting Boloor’s comments and taking direct aim at the product’s design.
“Sad that no one who works for Evan will tell him the truth. No one will ever wear these. Horrendous product design,” Gerber said.
Price Action: Snap shares closed Wednesday at $4.74, down 8.14% on the day and edged up 1.05% to $4.79 in after-hours trading. Year-to-date, the shares are down 41.70% and in the past five years, the stock has declined by 92.50%, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, Snap stock’s Momentum score ranks in the bottom 8%, reflecting weak performance across short, medium and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: NYCStock / Shutterstock
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