Shares of Meta Platforms (NASDAQ: META) were moving higher today as investors responded favorably to the Facebook parent's launch of its new Quest 3 mixed reality (MR) headset, which comes just days ahead of Apple's (NASDAQ: AAPL) expected reveal of its own MR headset.

As a result, Meta stock was up 3.4% as of 2:08 p.m. ET on Thursday on the news.

In an Instagram post, CEO Mark Zuckerberg announced the highly anticipated device. Priced at $499, the new headset is 40% thinner than the Quest 2 and is said to be more comfortable and offer better display resolution.

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Source Fool.com