Sabitlenmiş Tweet
$WRBY - THE FORGOTTEN AI WEARABLES PLAY
Thesis: $2.5bn Mkt Cap with a $10bn AI glasses opportunity. WRBY is +30% today as investors begin to appreciate the sleepy retailer is transitioning to a consumer AI hardware enabler. WRBY will be the first AI x Consumer pure-play story in the US.
Product: Google x WRBY AI glasses are launching in 2H. WRBY is the first (and currently only) $GOOGL mass market retail partner in the US.
Catalyst: NEXT WEEK (5/12), $GOOGL will lay out the roadmap and ecosystem for glasses at the I/O hardware day.
Market: $META / $EL.FP have already defined the market, targeting 20-30mn units of production capacity.
"Blue Sky" Math: If WRBY sells 10mn units, it's $4bn/$1.2bn in Rev/EBITDA. At a 20x mult, WRBY's upside case is +750%.
WRBY's CEO: 'We believe they will be the world's first truly intelligent AI glasses designed for all day and everyday wear...These glasses have already become essential to our daily routines: we're reviewing our schedules and adding meetings to our calendars, checking cross city travel times, and working through complex math problems right off the whiteboard. I even had them help me review my son's Spanish homework. The best part is that they integrate seamlessly with the apps we and billions of other people already use every day'
Deep Dive🧵
English
