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

Snap’s stock dropped more than 5% after the company unveiled Specs, its long-developed AR glasses priced at nearly $2,200. CEO Evan Spiegel defended the price by positioning Specs as a high-end computer that sits between simpler smart glasses and bulkier mixed-reality headsets.

The market reaction suggests investors remain skeptical that expensive AR hardware can become a meaningful growth driver for Snap, especially given its younger user base. Specs reflects a broader push toward wearable computing, but pricing, utility, and mainstream adoption remain major hurdles.