This week’s news from Vuzix Corporation (NASDAQ: VUZI) was the catalyst for its stock to rise. Vuzix demonstrated innovative solutions during the exhibition and is preparing for the transition to next-generation technology.
Vuzix displayed its whole line of augmented reality (AR) glasses for professional usage at Field Service Palm Springs, which takes place in California from April 26 to 28. This is the 400th series of glasses, which has been used in medical, for repair and maintenance, staff training, and other jobs.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Vuzix, on the other hand, has previously displayed glasses at the show in collaboration with partner services TeamViewer and Librestream.
The news of an extra substantial order for Vuzix Blade AR glasses from Medacta, which is introducing the NextAR AR platform for shoulder surgery, was also a pricing driver this week.
Medacta is expanding its presence in the United States and Europe in anticipation of rising demand for NextAR, the first FDA-approved surgical application for complete shoulder replacement.
The NextAR platform was created to help orthopedic surgeons work more efficiently. It was first deployed in mid-2021 and has since been utilized in over 200 operations.
The Vuzix Blade glasses, which allow augmented reality projection, are a key feature of this platform. The Vuzix goggles, according to Medacta, are the ideal fit: they are lightweight and entirely wireless, while yet being able to operate for the duration of an operation.
On May 10, 2022, Vuzix will release its first-quarter report. The firm is anticipated to remain upbeat as fresh eyeglasses orders continue to come in.
Simultaneously, Vuzix is developing a new generation of AR glasses that will perform far better than the 400th series. Their presentation has the potential to enhance VUZI quotations significantly.
VUZI’s shares dropped -8.94% to $5.40 at the end of the latest trading session. The company’s current market capitalization is $355.10 million, with 63.66 million shares outstanding.