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Alphabet (GOOGL) Introduces Bluetooth Menu to Nest Hub Max

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Alphabet’s (GOOGL - Free Report) division Google is consistently working toward strengthening its smart display named Nest Hub Max.

Reportedly, Google’s recent addition of a Bluetooth menu to settings option in Nest Hub Max testifies the above-mentioned fact.

The Bluetooth menu item shows users the devices that were previously paired with the Nest Hub Max. The Bluetooth menu also shows other options like “Pair a new device” and “Use display as a Bluetooth speaker”.

With the recent capability, GOOGL aims to provide an enhanced experience to users. This is expected to boost the adoption rate of its smart displays, which in turn, might contribute to top-line growth.

This is likely to help Alphabet gain investors’ confidence in the near term and the long haul.

Shares of GOOGL have been down 22.8%, outperforming the Zacks Computer and Technology sector’s decline of 30.1% in the year-to-date period.

Efforts to Bolster Smart Displays

Apart from the latest move, GOOGL recently equipped the Nest Hub Max with the Fuchsia operating system.

Further, Alphabet rolled out the “Look and Talk” feature to the Nest Hub Max owners that allows the onboard camera to detect their glance and activate the microphone for commands without the “Hey Google” keyword.

Alphabet also improved the display experience and released three clock faces for smart displays. Additionally, GOOGL rolled out Zoom to the Nest Hub Max.

These initiatives are likely to help GOOGL penetrate the growing smart display market rapidly, which is expected to hit $18.25 billion by 2028, witnessing a CAGR of 21.6% during the 2021-2028 forecast period, per an Allied Market Research report.

Competitive Scenario

In this upbeat scenario, GOOGL faces intense competitive pressure from organizations like Amazon (AMZN - Free Report) and Lenovo, which are making strong efforts to capitalize on the above-mentioned prospects.

Amazon offers powerful smart displays with the Echo Show series. AMZN’s latest launch Echo Show 15 is compatible with Alexa and can be fixed in portrait or landscape orientation. AMZN’s Echo Show 15 can be paired with other Echo devices to enjoy a higher quality audio. 

Further, Lenovo smart display provides an enhanced visual experience to users. It is enabled with Google Assistant and designed for smart home applications. The underlined smart display runs on a simplified version of Google's Android mobile OS, Android Things.

Zacks Rank & Stocks to Consider

Currently, Google’s parent Alphabet carries a Zacks Rank #4 (Sell).

Investors interested in the broader Zacks Computer & Technology sector can considersome better-ranked stocks like Aspen Technology (AZPN - Free Report) and Analog Devices (ADI - Free Report) . While Analog Devices sports a Zacks Rank #1 (Strong Buy), Aspen Technology carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Analog Devices has lost 16.2% in the year-to-date period. The long-term earnings growth rate for ADI is currently projected at 5.7%.

Aspen technology has returned 27.5% in the year-to-date period. The long-term earnings growth rate for AZPN is currently projected at 18.4%.