Apple Cuts Over 200 Jobs in Siri and Vision Pro Teams

Meta Platforms reported fiscal Q2 2026 revenue of $60.80 billion, up 28% year over year, while free cash flow fell to $784 million from $8,549 million a year earlier. Advertising revenue reached $59.36 billion as ad impressions rose 14% and the average price per ad rose 12%, with daily users across its apps averaging 3.60 billion in the quarter's final month. Total expenses climbed 55% to $42.03 billion, including $2.40 billion of legal charges and $1.18 billion of severance, pushing operating income down 8% to $18.78 billion and operating margin to 31% from 43%; GAAP diluted earnings per share were $6.18, down from $7.14. The Family of Apps segment earned $23.39 billion in operating income, while Reality Labs lost $4.62 billion, and capital expenditures reached $31.08 billion against depreciation and amortization of $6.36 billion. Meta guided third-quarter revenue to $61 billion to $64 billion, full-year expenses to $165 billion to $169 billion, and capital spending of $130 billion to $145 billion, and warned that youth-related trials this year may ultimately result in a material loss.

XREAL announced that its XREAL AURA wired XR glasses will be priced starting at $1,279 USD, with pre-orders now open exclusively to customers who placed paid reservations. The glasses, developed with Google and Qualcomm Technologies, pair optical see-through eyewear weighing less than 95 grams with a tethered compute puck running Android XR with Google Play, Google Gemini and Snapdragon Reality Elite. Reservation holders can choose M or L frame sizes and either a 12GB RAM plus 256GB storage configuration for $1,279 or a 16GB RAM plus 512GB storage configuration for $1,499, with regional pricing set at $1,829 and $2,149 in Canada, ¥229,800 and ¥269,800 in Japan, and ₩1,990,000 and ₩2,290,000 in South Korea. The system offers precise hand tracking, Sound by Bose and a 70-degree field of view, and the compute puck doubles as a trackpad. XREAL AURA will begin shipping soon in the United States, Canada, Japan and South Korea, with more markets coming in 2027, and general availability orders will open at launch.

Virtuix Holdings Inc. announced that Founder, Chief Executive Officer, and Chairman Jan Goetgeluk will highlight the company's consumer growth and expanding defense sales at the 2026 Maxim Growth Summit, held October 13 and 14, 2026 at the Hard Rock Hotel New York. Omni One consumer orders have been running at approximately 3X the prior-year level following the company's June launch of Omni One for Quest in collaboration with Meta. Virtuix has also completed its U.S. Air Force AFWERX Phase I SBIR program, expanded its work in counter-UAS and military training, and sold Omni One systems to the U.S. Department of Veterans Affairs and the U.S. Navy's Morale, Welfare and Recreation Program. In enterprise and robotics, Tesla has placed repeat Omni One Enterprise orders for its Optimus program and Figure AI has also purchased an Omni One Enterprise system, while healthcare initiatives now include deployments and evaluation across the U.S. Department of Veterans Affairs, autism therapy for children, and rehabilitation applications. Goetgeluk said Virtuix is increasingly becoming much more than a consumer VR company, with the same full-body simulation platform gaining adoption across consumer entertainment, defense training, humanoid robotics, and healthcare.

Deutsche Bank analyst Benjamin Black estimates Meta's Muse AI agent could generate up to 8% of the company's revenue by 2030, roughly $36 billion in sales, with a lower-end forecast of $2.4 billion. Muse has already been downloaded more than 5.1 million times, according to Sensor Tower, and Meta has signed commerce deals with Shopify and PayPal. Meta also debuted the Muse Charm in late September, a standalone pocket device built exclusively for voice interaction with the Muse agent, and CEO Mark Zuckerberg showcased a shift toward "personal superintelligence" with the Meta VR Glasses, a 100-gram spatial computing device priced at $1,299 with 5K micro-OLED displays, tethered puck processing, and native eye and hand tracking. On the smart eyewear front, Meta launched the third-generation Ray-Ban Meta Gen 3 glasses starting at $249, alongside camera-free Ray-Ban Meta Audio glasses for open-ear listening and AI voice interaction. Meta's stock is up 25% inside of a month.

Meta Platforms' Reality Labs unit generated $431 million of second-quarter revenue against a $4.62 billion operating loss, with a first-half loss of $8.65 billion, leaving the business far from covering its costs. Adding the quarterly operating loss to revenue implies approximately $5.05 billion of operating costs, meaning revenue would need to reach $5.05 billion to break even at fixed costs, nearly 12 times the reported figure. At an illustrative 30% contribution margin on incremental revenue, offsetting the current $4.62 billion operating loss would require roughly $15.4 billion of additional quarterly sales, and at a 50% margin the requirement would still be around $9.24 billion. Meta's Family of Apps produced $23.39 billion of quarterly operating income against consolidated operating income of $18.78 billion, so Reality Labs consumed approximately 20% of the apps' operating profit. Annualizing the latest Reality Labs loss gives about $18.48 billion, and under an illustrative 20% tax assumption eliminating that expense would add about $14.78 billion of after-tax profit, worth about $370 billion at a hypothetical 25 times earnings, roughly one-fifth of Meta's current market capitalization. Meta is simultaneously funding a large AI infrastructure program, with second-quarter operating cash flow of $31.86 billion and capital spending of $31.08 billion leaving only about $784 million of free cash flow, against a stated annual capital-spending range of $130 billion to $145 billion.

Virtuix Holdings Inc. announced that its Omni One for Quest content library has expanded to more than 75 compatible or upcoming Meta Quest titles, including major franchises such as Forefront, Teenage Mutant Ninja Turtles, and The Boys. Since launching Omni One for Quest in June in collaboration with Meta, the company said Omni One orders have increased approximately 3X quarter-to-date compared with the same period last year, building on 72% year-over-year order growth in its first fiscal quarter. The announcement followed Meta's unveiling at Meta Connect of its next-generation Meta VR Glasses, a lightweight VR device weighing approximately 100 grams that eliminates the bulky headset and headstrap traditionally associated with VR. Through its participation in the Made for Meta program, Virtuix expects Omni One for Quest to be compatible with Meta VR Glasses, subject to successful integration and testing. Founder, Chairman and CEO Jan Goetgeluk said that as VR hardware becomes smaller, lighter and more accessible, full-body movement will become an increasingly important part of the immersive experience, and that the company is seeing strong momentum as it brings its movement technology to a broader audience.