According to the company, users can create images in just a few seconds using SnapFusion, which should allow it to expand its user base in the upcoming quarters. It's quite easy to generate AI images by using a few text prompts, and last month Snap announced its entry in this highly disruptive segment with SnapFusion. In the last few months, generative AI creation has gained popularity, capturing the imagination of millions of users globally. Snap stock has gained momentum in recent trading sessions as investors believe it is well-positioned to benefit from the artificial intelligence or AI megatrend. Snap operates in the social media space, which means it competes with giants such as Alphabet’s (GOOGL) YouTube, Meta’s (META) Facebook, Instagram and WhatsApp, Twitter, as well as TikTok and Pinterest (PINS). Moreover, its delivery framework optimizes the relevance of ads, offering advertisers to increase their return on investment. Snap aims to continually improve the way ad formats are purchased and delivered by investing heavily to build an automated and scalable ad platform. Alternatively, Snap Ads offers a platform for advertisers to use full-screen videos with sound and integrate additional experiences within these ads. Enterprises and brands can advertise through Snap’s augmented reality (AR) tools, such as AR Lenses, unlocking the ability to target and reach users in a differentiated way.ĪR Lenses allows advertisers to create engaging 3D experiences across categories such as apparel, footwear, and accessories. The company generates a majority of its sales from online ads, and Snap aims to connect brands and direct response advertisers with its wide base of users. Snapchat is a visual messaging application that allows you to connect with users around the globe using augmented reality, video, voice, and other creative tools. Snap is a technology company that owns and operates Snapchat, its flagship product. Let’s see if Snap stock should be part of your portfolio right now. It then touched a record high of $83 in September 2021 and currently trades at $12.12. Snap went public at $17 per share in March 2017. Valued at a market cap of $19 billion, Snap stock still trades 85% below all-time highs, set in 2021, and is trailing the broader markets by a wide margin since its initial public offering or IPO. The rally surrounding tech stocks has driven shares of social media company Snap (SNAP) higher by 15% in the last month and by 35% year-to-date.
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