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EssilorLuxottica shares hit record high as Meta AI glasses fuel investor optimism

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Shares of EssilorLuxottica (ESLX.PA) soared 14% on Friday, reaching an all-time high and adding nearly $20 billion in market value, as enthusiasm over its AI-powered Ray-Ban Meta smart glasses surged among investors.

The Paris-listed eyewear giant, founded by Leonardo Del Vecchio, reported third-quarter sales up 11.7% year-on-year to €6.9 billion ($8.1 billion), marking its strongest quarterly performance ever. The results exceeded analyst expectations, buoyed by growing demand for smart and wearable technologies.

Although the Ray-Ban Meta smart glasses currently account for only a small portion of EssilorLuxottica’s total revenue, they have become a major growth catalyst. Chief Financial Officer Stefano Grassi said the AI-enabled glasses contributed over four percentage points to sales growth, prompting the company to expand production capacity ahead of schedule.

“The exponential growth of wearables provided an extra boost to top-line performance,” EssilorLuxottica said.

Barclays analysts predicted that smart glasses could become the most disruptive innovation since smartphones, forecasting sales of 60 million units globally by 2035.

The stock’s surge marked the biggest daily gain since 2008, lifting the company’s market capitalization to €126.5 billion and driving the Stoxx Europe Luxury 10 Index up more than 7% on the week.

Priced between $379 and $799, the latest Ray-Ban Meta models feature built-in displays and generative AI capabilities. Expansion to Canada, France, Italy, and the UK is planned for early 2026.

Analysts at J.P. Morgan called the glasses a “material growth driver,” while Equita raised its annual wearables forecast, estimating the category could contribute around €1 billion to sales this year.

Apple Halts Vision Pro Overhaul to Focus on AI-Powered Smart Glasses

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Apple has paused development of its next-generation Vision Pro headset to redirect resources toward the creation of artificial intelligence-powered smart glasses, according to a report by Bloomberg News citing people familiar with the matter.

The company had been working on a cheaper and lighter version of its $3,499 Vision Pro — code-named N100 — with a tentative release window in 2027. However, Apple reportedly told employees last week that development teams will now shift their focus to an AI glasses project, accelerating its timeline to compete directly with Meta Platforms’ smart eyewear.

The decision reflects Apple’s changing strategy in the face of slowing Vision Pro sales. The mixed-reality headset, launched in February 2024, received strong initial attention but quickly lost momentum amid limited mainstream content and competition from more affordable alternatives like Meta’s Quest series.

TWO NEW GLASSES MODELS IN DEVELOPMENT

Apple is said to be working on two distinct smart glasses models:

  • N50, the first version, will connect to an iPhone and will not include a display. Apple aims to unveil this model as early as next year, with a public release planned for 2027.

  • A second, more advanced model — equipped with a built-in display — is now being fast-tracked for release around 2028, according to Bloomberg’s sources.

The advanced model is seen as Apple’s answer to Meta’s Ray-Ban Display glasses, which CEO Mark Zuckerberg showcased in September along with a new Oakley-branded “Vanguard” model designed for athletes.

Apple’s upcoming glasses will reportedly emphasize voice control and AI-driven functions, integrating tightly with iPhone services and Apple’s growing ecosystem of on-device intelligence.

SHIFTING STRATEGY IN THE AI ERA

The move highlights Apple’s broader push to catch up in artificial intelligence, an area where competitors such as Google and Meta have been more aggressive.

At Apple’s September product launch event, the company introduced new iPhones and a slimmer iPhone Air, but industry analysts noted the absence of major AI announcements, raising questions about Apple’s roadmap in the rapidly evolving AI market.

By contrast, Google’s Gemini-powered Pixel phones and Meta’s AI-integrated wearables have taken the spotlight in the consumer AI space.

When contacted by Reuters, Apple declined to comment on the report.

If the timeline holds, Apple’s shift could mark a major strategic pivot from mixed reality to wearable AI, positioning its smart glasses as a potential successor — not just a companion — to the iPhone.

Meta unveils smart glasses with built-in display, pushing toward “superintelligence”

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Meta Platforms introduced its first consumer-ready smart glasses with a built-in digital display at its annual Connect event in Menlo Park, California. CEO Mark Zuckerberg pitched the new Meta Ray-Ban Display glasses as the ideal gateway to the AI-powered “superintelligence” era, saying they can enhance communication, memory, and senses while allowing users to stay present in the real world.

The glasses feature a small digital screen in the right lens for notifications and basic tasks. Priced at $799, they will launch on September 30 and come with a wristband that translates hand gestures into commands such as answering calls or replying to texts. Despite some glitches during the demo, the product received applause from the developer audience.

Meta also launched Oakley Vanguard sports glasses for $499, designed for athletes with Garmin and Strava integration, nine hours of battery life, and real-time workout feedback. In addition, Meta refreshed its earlier Ray-Ban line with improved cameras and nearly double the battery life, now priced at $379.

Industry analysts remain cautious. While the Display glasses may not achieve strong immediate sales, they see the launch as an incremental step toward Meta’s more ambitious “Orion” glasses, targeted for 2027. Analysts compared the debut to Apple’s rollout of the smartwatch, suggesting glasses could evolve into an everyday alternative to the smartphone if Meta proves their value.

The unveiling comes amid Meta’s aggressive AI investments and recruitment push, but also at a time of heightened scrutiny over child safety on its platforms and past controversies around VR’s effects on younger users.

IDC forecasts AR/VR headsets and smart glasses shipments to rise nearly 40% in 2025, with Meta expected to drive growth—particularly through the more affordable Ray-Ban line co-developed with EssilorLuxottica.