In a big boost for tech giants, including Apple (AAPL), Meta Platforms (META), and Google (GOOGL), the Federal Communications Commission (FCC) unanimously voted to open the 6 Gigahertz (GHz) band to what it calls “a new class of very low power devices.” Such devices include augmented and virtual reality (AR/VR) wearables.
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The FCC expects it will “spur an eco-system of cutting-edge applications, including wearable technologies and augmented and virtual reality, that will help businesses, enhance learning opportunities, advance healthcare opportunities, and bring new entertainment experiences.”
The FCC’s decision was welcomed by the tech biggies. Meta sees this as a pivotal step for its smart glasses, as it would enable enhanced functionality for its smart glasses even when the user is outside the home and away from a strong Wi-Fi connection.
Google’s hardware division remained excited about the potential of this spectrum for high-speed peer-to-peer WiFi communication. The company anticipates that devices would be able to “connect directly to each other via Wi-Fi without an intermediate access point,” which could be useful for multiplayer games and photo-sharing apps.
Apple also lauded the FCC’s vote as a positive stride toward the next generation 5G ecosystem.
What are the Best Tech Stocks to Buy?
Among the tech biggies, analysts are bullish on both META and GOOGL but are cautiously optimistic about AAPL. Between META and GOOGL stocks, META retains the most upside potential with an average META price target of $376.42, implying an upside potential of 20.3% from current levels.
