After unveiling ridiculously expensive AR glasses, Snap’s stock takes a dive

<p id="speakable-summary" class="wp-block-paragraph">Snap’s <a href="https://techcrunch.com/2026/06/16/snap-finally-debuts-its-long-awaited-ar-glasses-specs-and-oof-they-arent-cheap/">long-awaited AR glasses</a>, Specs, didn’t have the best debut.</p>
<p class="wp-block-paragraph">The company’s stock <a href="https://seekingalpha.com/news/4603673-snap-set-to-end-six-straight-sessions-of-losses" target="_blank" rel="noreferrer noopener nofollow">hasn’t been on the healthiest trajectory</a> lately. It’s dropped 30% over the past year. Following Specs’ launch, it sank more than 5% — falling from $5.86 a share on Tuesday to a low of $4.83 on Wednesday morning. As of this writing, the stock still hasn’t recovered the position it held prior to the announcement.</p>
<p class="wp-block-paragraph">The big concern surrounding Snap’s new smart glasses — which the company has been working on for over a decade — is the cost: The company maintains they will retail at nearly $2,200 apiece.</p>
<p class="wp-block-paragraph">It’s worthy of note that Snap’s core user demographic — teenagers — are not typically equipped with that kind of pocket change, leading onlookers to question the profitability path for the new product.</p>
<p class="wp-block-paragraph">Snap’s CEO, Evan Spiegel, did <a href="https://www.youtube.com/watch?v=h9OzwbeQ_6g" target="_blank" rel="noreferrer noopener nofollow">an interview</a> with CNBC on Tuesday (during which he sported the new glasses) and, when questioned about the hefty price, responded: “The most important way to think of Specs is as a computer, and so they’re comparably priced to other high-end computers or high-end laptops.”</p>
<p class="wp-block-paragraph">Spiegel further justified the cost by saying that Specs occupies a unique space in the AR market between glasses like Meta’s Ray-Bans — which cost a lot less but provide significantly less compute power — and bulkier headsets like the Apple Vision Pro, which are powerful but very expensive. </p>
<p class="wp-block-paragraph">Spiegel said his product was both “highly wearable but also incredibly capable for immersive computing.”</p>