Snap has unveiled AR glasses priced at $2,195: why investors are concerned and what this means for the market
On Tuesday, Snap (SNAP) shares plunged 9.72%, falling to $5.16. The reason was the premiere of the first commercial AR Spectacles glasses, priced at $2,195, presented by company CEO Evan Spiegel at the Augmented World Expo (AWE) 2026 in California.
Pre-orders are already open: just place a refundable deposit of $200. First deliveries are scheduled for fall, starting in the US, UK, and France. The target audience is developers and enthusiasts, not the mass consumer.
Design under fire, investors on edge
The Specs glasses project digital content directly onto the real world and work completely autonomously — no smartphone required. Spiegel calls them a full-fledged computing platform with a built-in AI assistant, internet, navigation, and translation. Interchangeable prescription lenses allow multiple people to use the same glasses.
However, the new product's appearance sparked a wave of criticism on social media: the bulky frame is compared to 3D glasses from movie theaters and even eclipse viewing devices. Many doubt its comfort for everyday wear.
The high price of $2,195 is triple the cost of Meta Ray-Ban smart glasses (under $700). Meta accounts for about 76% of global smart glasses shipments, and its developer ecosystem is much more powerful than Snap's. Meanwhile, Snap recently shut down its VR metaverse division to focus on AR and AI — competition is becoming a priority.
Apple and Google are also developing their own devices, increasing pressure on Snap. The share of retail investors in the stock market has fallen to its lowest since the third quarter of 2024, narrowing the base of speculators that small-cap companies often rely on to support their stock price.
Spiegel emphasizes: Specs only complement smartphones, not replace them — similar to how mobile devices didn't eliminate laptops.
"Almost 20 years have passed since the first iPhone was released — now people are ready to look at computing in a new way," the company CEO explains.
SNAP shares have fallen 33% since the start of the year, and the decline continued on Tuesday. Forecasts note increased risks for technology companies in 2026. Snap has no room for error with a slow launch. Whether developer interest will translate into mass demand will become clear this fall.
My professional opinion: Snap is taking an ambitious but risky step. In a saturated market with strong competitors and a skeptical investor sentiment, the $2,195 price tag could become a barrier that is hard to overcome without significant improvements in design and functionality. If fall deliveries don't show high demand from developers, pressure on the stock will only intensify.