Snap unveiled SPECS on Tuesday, June 16 — standalone augmented reality glasses priced at $2,195, with a $200 refundable deposit required at pre-order. The device is set to ship this fall in the United States, United Kingdom, and France.
$SNAP CEO Evan Spiegel just showed off the new Specs AR glasses for the first time.
This is the kind of product reveal that explains how a social media company can be down over 90% during one of the best tech bull markets in history. pic.twitter.com/AHoBj8uEjj
— Shay Boloor (@StockSavvyShay) June 17, 2026
The stock responded with a move of more than 3%, though the company remains near a seven-year low, with a market cap of around $9.2 billion and the stock trading close to $5.
SPECS run two Qualcomm Snapdragon processors — one for computer vision, one for AR experiences — and require no phone or external puck. The display uses Snap’s own liquid crystal on silicon technology, offering a 51-degree field of view. Snap says that feels like a 24-inch monitor for work or a 115-inch screen for video.
The frames weigh between 132 and 136 grams, come in two sizes, accept prescription inserts, and carry up to four hours of battery life, with up to 20 hours using the included charging case. Snap has filed more than 7,000 AR patents for the device.
“SPECS are the beginning of a new era in computing,” CEO Evan Spiegel said at the launch.
The $2,195 price tag is not aimed at the mass market. It targets developers and early adopters — the people who build the Lenses that could make a future, cheaper version worth buying. Snap says developers have already published hundreds of Lenses for the device, following ten OS updates and more than 40 new features and APIs over the past 18 months.
Meta currently holds roughly 70% of the smart glasses market, with about 3.5 million Ray-Ban units shipped. Its Ray-Ban Display glasses launched in September 2025 at around $800, but function as a heads-up display rather than full AR. Google and Samsung have previewed Android XR glasses, but a display version is not expected until 2027. Apple is not expected to ship smart glasses before late 2026 at the earliest.
That puts Snap ahead of three companies each worth hundreds of times more, at least for now.
The broader market is moving fast. One 2026 industry forecast projects AR smart glasses shipments will rise 85% year over year, passing 15 million units worldwide. Another projects a jump from 6 million units in 2025 to 20 million in 2026.
Snap has spent more than $3.5 billion on AR development over more than a decade. In Q1 2026, the company reported revenue of $1.529 billion, up 12% year over year. Its “Other Revenue” segment — driven by Snapchat+ and Lens+ subscriptions — rose 87% to $285 million.
B. Riley analyst Naved Khan reiterated a Buy rating and a $10 price target on Snap ahead of the launch, saying a successful SPECS rollout could be “transformative” and add a growth vector the market has not yet priced in.
Snap has yet to string together consistent profits. Building strong hardware has not been its problem historically — monetizing it has.
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