Vuzix (VUZI) to Unveil AI-Enabled Smart Glasses at CES 2024
Vuzix Corporation VUZI, a trailblazer in smart glasses and augmented reality (AR) technology, is set to dazzle at the Consumer Electronics Show (“CES”) 2024 in Las Vegas. The company's exhibit will feature an array of AI-powered smart glasses and captivating demonstrations.
Apart from showcasing the award-winning Vuzix Ultralite S AR smart glasses OEM design, Vuzix will present its M-Series, Vuzix Shield, and an upcoming AI optimization wearable at booth #20143 in the Las Vegas Convention Center's Center Hall.
Visitors will witness the potential of Vuzix smart glasses through interactive use case demos, illustrating their versatility in daily life activities like fitness tracking, running guidance, SMS notifications, live sports updates, stock market monitoring and more.
Vuzix Corporation Price and Consensus
Vuzix Corporation price-consensus-chart | Vuzix Corporation Quote
Furthermore, demonstrations will highlight medical applications such as surgical protocols and even intricate procedures like brain surgery using smart glasses. Attendees can engage in field service scenarios, learn inventory management techniques and explore waveguide and display engine technologies developed by Vuzix.
One of the spotlight offerings is Ultralite S AR smart glasses, tailored for sports and fitness enthusiasts. These glasses ensure hands-free, wireless connectivity to smartphone data and employ Vuzix Incognito technology to minimize eye glow, setting them apart from other waveguide-based solutions.
Vuzix president and CEO, Paul Travers, affirmed the company's commitment to enhancing workplaces through advanced technology solutions, underscoring their pivotal role in the impending wave of AI and AR adoption.
Vuzix’s sustained focus on developing new products with advanced features is helping it attract new customers, thereby boosting revenues. In August 2022, the company launched Blade 2 smart glasses, an augmented reality workforce solution that has advanced features specifically designed to meet the needs of connected workers.
Additionally, the company benefits from the growing demand for its devices, particularly AI-enabled smart glasses. Expanding global sales channels are expected to drive top-line growth in the long haul.
However, VUZI is facing a mixed bag of challenges, including delayed orders from its largest direct and channel customers.
Zacks Rank & Other Stocks to Consider
Currently, Vuzix carries a Zacks Rank #3 (Hold). The stock has plunged 41.5% in the trailing 12 months.
Some better-ranked stocks from the broader technology sector are Zoom Video Communications Inc. ZM, NVIDIA Corporation NVDA and Microsoft Corporation MSFT. While Zoom sports a Zacks Rank #1 (Strong Buy), NVIDIA and Microsoft each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Zoom’s fiscal 2024 earnings has been revised upward by 28 cents to $4.94 per share in the past 60 days, suggesting year-over-year growth of 13%. The long-term estimated earnings growth rate for the stock stands at 33.5%. Shares of ZM have risen 1.9% over the past year.
The consensus mark for NVIDIA’s fiscal 2024 earnings has been revised upward by 12 cents to $12.29 per share over the past 30 days, indicating a whopping 268% increase from fiscal 2023. It has a long-term earnings growth expectation of 13.5%. In the trailing 12 months, NVDA stock has surged 236.5%.
The Zacks Consensus Estimate for Microsoft’s fiscal 2024 earnings has been revised upward by a penny to $11.14 per share in the past seven days, which calls for an increase of 13.5% on a year-over-year basis. The long-term expected earnings growth rate for the stock is pegged at 13.6%. MSFT stock has returned 65.5% over the past year.
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