Facebook Inc. (Nasdaq: FB) announced yesterday (Tuesday) that it plans to purchase the virtual-reality company Oculus VR Inc. for $2 billion.
Facebook Chief Executive Officer Mark Zuckerberg has pegged virtual reality as the "platform of tomorrow," and that's what led to the purchase. Still, some analysts are turned off by Facebook's $2 billion commitment.
Money Morning's Capital Wave Strategist Shah Gilani joined FOX Business' "Varney & Co." today (Wednesday) and explained why he thinks the acquisition is actually inexpensive for Facebook and why this was a smart move for the social media company.
Take a look:
