EssilorLuxottica Shares Slump as Apple Targets AI Smart Glasses Market

EssilorLuxottica SA shares experienced their sharpest weekly decline in nearly four years, plunging 10% in Paris trading. The sell-off followed reports that Apple plans to enter the AI-powered smart glasses market by 2027, posing a direct threat to existing players. Currently, EssilorLuxottica maintains a dominant position through its partnership with Meta Platforms, producing the popular Ray-Ban smart eyewear. Market participants are concerned that Apple's entry could disrupt the competitive landscape and erode the company's future market share in wearables. Despite the recent volatility, approximately 93% of analysts covering the stock maintain a "Buy" recommendation, suggesting long-term confidence. Some experts argue that the entry of tech giants like Apple and Google may ultimately expand the total addressable market for smart eyewear.