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Alphabet (GOOGL) Boosts Workspace Efforts with New Updates

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Alphabet’s (GOOGL - Free Report) division Google has introduced three updates related to Gmail, Google Meet and Google Sheets to its iPhone and iPad productivity apps.

The company has rolled out an email update widget on iOS for homecreen. Notably, it will be available in the next few weeks.

It recently unveiled a Picture-in-Picture feature in Google Meet for iOS users, which is now available.

The company introduced shortcut support on Google Sheets, which is in upcoming state currently.

We note that all the updates are likely to aid Google in gaining strong momentum among iOS users in the days ahead.

Further, the latest move bodes well for the company’s growing efforts toward strengthening Google Workspace.

Growing Workspace Efforts

Apart from the latest effort, Google recently added the Material You widget to Gmail. The update lets users make phone calls and manage the same through Gmail. It also offers phone permission to avoid phone-call interruptions during a Meet session.

Further, the company updated Google Tasks and added the latest features by which Workspace users can quickly switch lists.

In addition, Google introduced a feature named Time Insights in Google Calendar in order to provide a customized experience and help paid Workspace users efficiently manage their time.

We believe that strengthening Google Workspace offerings will continue to drive the company’s momentum across organizations whose demand for productivity and collaboration software applications is rapidly increasing amid the pandemic.

Intensifying Competition

We note that Google remains well-poised to capitalize on the growth prospects in the virtual workspace management tools market, which is witnessing increasing spending by large as well as small enterprises.

Google’s growing Workspace efforts are likely to provide it a competitive edge over other companies like Microsoft (MSFT - Free Report) and Apple (AAPL - Free Report) , which also offer workspace tools.

Microsoft offers powerful productivity and office tools to help users work, learn, organize, and connect. Also, Microsoft Outlook, which consists of webmail, calendaring, contacts and task services, helps users stay connected and be productive anytime and anywhere.

Outlook’s new feature — Text Predictions helps users become more productive as it accepts and ignores a suggestion while typing an email.

Apple’s iWork provides an office suite of applications for users to create word-processing documents, spreadsheets and presentations. Additionally, Apple recently updated iWork with new features, which help users seamlessly work with documents.

Zacks Rank & Stock to Consider

Currently, Alphabet carries a Zacks Rank #3 (Hold).

Investors interested in the broader technology sector can consider Advanced Micro Devices (AMD - Free Report) , which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advanced Micro Devices has gained 51.6% over a year. The long-term earnings growth rate for the AMD stock is currently projected at 46.2%.