Microsoft also gave the event a boost, with Microsoft Teams, Microsoft 365 Office buckets, and Xbox Cloud games all coming to Quest, giving Meta credit

Microsoft also gave the event a boost, with Microsoft Teams, Microsoft 365 Office buckets, and Xbox Cloud games all coming to Quest, giving Meta credit

Microsoft also gave the event a boost, with Microsoft Teams, Microsoft 365 Office buckets, and Xbox Cloud games all coming to Quest, giving Meta credit.

But capital markets were bearish on the event, with Meta's shares down about 4.5 per cent in midday trading on Tuesday. Meta has lost 60 per cent of its market value this year, roughly back to 2017 levels.

Meta is by far the most successful VR hardware manufacturer, and it is not too much to say that it has mastered the entrance of the Meta-universe. The cumulative shipment of Quest series reached 17.7 million units, occupying more than 90% of the market share. In the first half of this year alone, Quest 2 sold 5.9 million units. No other manufacturer adds half as much.