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Alphabet (GOOGL) Aids Android Users With Password Manager Update
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Alphabet’s (GOOGL - Free Report) Google is leaving no stone unturned to expand its Android offerings on the back of growing enhancements of its Android apps.
This is evident from the company’s latest Material 3 redesign for the Google Password Manager app on Android.
This Material You update, available in version 24.16.16 of Google Play services, features a tall Material 3 bottom bar, a pill-shaped search bar, and a profile switcher for managing passwords.
The update also adds a "Checkup" tab, which scans for compromised, reused, and weak passwords.
Alphabet is expected to gain solid traction among Android users on the back of its latest move.
Moreover, the Material 3 redesign will allow the company to capitalize on growth opportunities present in the global password manager market. Per a Mordor Intelligence report, the password manager market is expected to reach $7.32 billion by 2029, exhibiting a CAGR of 28.5% between 2024 and 2029.
Apart from the Password Manager update, Alphabet recently unveiled a new notifications feature in Google Contacts, allowing users to view their call and message notifications on widgets. The notifications widget comes with a badged bell icon in the top-right corner, joining background images and shortcuts for calling and messaging.
The company is also working to launch a dedicated page for all its location-sharing services on Android. This new “Google Location Sharing” hub will bring together Google Maps, Google Find My Device, and Personal Safety services, facilitating users with a one-stop service for all its location-sharing applications.
Google enhanced YouTube’s user interface for Android TV with an animated comment count feature in the info pill section. This new feature addition aims to make full-screen viewing easier and less intrusive and enhance interaction with videos on displays.
The company also added a new “Automatically add linked passes” feature to Google Wallet on Android. This new feature is an addition to the "Passes" sub-section in Google Wallet settings on Android. It allows providers to automatically add event tickets, promotions and offers to existing passes.
To Conclude
Alphabet’s growing Android efforts will continue to aid its Google Services segment, which remains the key growth catalyst for the company. Its shares have rallied 26% in the year-to-date period compared with the Zacks Computer & Technology sector’s growth of 15.7%.
In the first quarter of 2024, the Google Services segment increased 13.6% year over year to $70.4 billion, which accounted for 87.4% of the total revenues.
The strengthening Google Services segment is expected to aid Alphabet’s overall financial performance in the near term.
The Zacks Consensus Estimate for 2024 total revenues stands at $295.53 billion, indicating year-over-year growth of 15.2%.
The consensus mark for 2024 earnings is pegged at $7.61 per share, indicating a 31.2% rise from the year-ago figure. The figure has been revised upward by 0.5% in the past seven days.
Zacks Rank & Other Stocks to Consider
Currently, Alphabet sports a Zacks Rank #1 (Strong Buy).
Image: Bigstock
Alphabet (GOOGL) Aids Android Users With Password Manager Update
Alphabet’s (GOOGL - Free Report) Google is leaving no stone unturned to expand its Android offerings on the back of growing enhancements of its Android apps.
This is evident from the company’s latest Material 3 redesign for the Google Password Manager app on Android.
This Material You update, available in version 24.16.16 of Google Play services, features a tall Material 3 bottom bar, a pill-shaped search bar, and a profile switcher for managing passwords.
The update also adds a "Checkup" tab, which scans for compromised, reused, and weak passwords.
Alphabet is expected to gain solid traction among Android users on the back of its latest move.
Moreover, the Material 3 redesign will allow the company to capitalize on growth opportunities present in the global password manager market. Per a Mordor Intelligence report, the password manager market is expected to reach $7.32 billion by 2029, exhibiting a CAGR of 28.5% between 2024 and 2029.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Expanding Android Offerings
Apart from the Password Manager update, Alphabet recently unveiled a new notifications feature in Google Contacts, allowing users to view their call and message notifications on widgets. The notifications widget comes with a badged bell icon in the top-right corner, joining background images and shortcuts for calling and messaging.
The company is also working to launch a dedicated page for all its location-sharing services on Android. This new “Google Location Sharing” hub will bring together Google Maps, Google Find My Device, and Personal Safety services, facilitating users with a one-stop service for all its location-sharing applications.
Google enhanced YouTube’s user interface for Android TV with an animated comment count feature in the info pill section. This new feature addition aims to make full-screen viewing easier and less intrusive and enhance interaction with videos on displays.
The company also added a new “Automatically add linked passes” feature to Google Wallet on Android. This new feature is an addition to the "Passes" sub-section in Google Wallet settings on Android. It allows providers to automatically add event tickets, promotions and offers to existing passes.
To Conclude
Alphabet’s growing Android efforts will continue to aid its Google Services segment, which remains the key growth catalyst for the company. Its shares have rallied 26% in the year-to-date period compared with the Zacks Computer & Technology sector’s growth of 15.7%.
In the first quarter of 2024, the Google Services segment increased 13.6% year over year to $70.4 billion, which accounted for 87.4% of the total revenues.
The strengthening Google Services segment is expected to aid Alphabet’s overall financial performance in the near term.
The Zacks Consensus Estimate for 2024 total revenues stands at $295.53 billion, indicating year-over-year growth of 15.2%.
The consensus mark for 2024 earnings is pegged at $7.61 per share, indicating a 31.2% rise from the year-ago figure. The figure has been revised upward by 0.5% in the past seven days.
Zacks Rank & Other Stocks to Consider
Currently, Alphabet sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader technology sector are Dell Technologies (DELL - Free Report) , CrowdStrike (CRWD - Free Report) and Intuit (INTU - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Dell Technologies have gained 8.3% in the year-to-date period. The long-term earnings growth rate for DELL is 12%.
Shares of CrowdStrike have gained 32.8% in the year-to-date period. The long-term earnings growth rate for CRWD is currently projected at 22.31%.
Shares of Intuit have gained 4.8% in the year-to-date period. The long-term earnings growth rate for INTU is 14.57%.