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Alphabet (GOOGL) Bolsters Google Maps With Immersive View
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Alphabet’s (GOOGL - Free Report) division Google is consistently working toward adding innovative features to Google Maps.
Reportedly, the ‘Immersive View’ feature of Google Maps, introduced in 2022, is now rolling out widely.
The underlined feature combines picturesque views of a city, its landmarks, suggestions of places and views of the insides of some buildings, all together giving a new angle to explore the city.
It also provides night views of certain locations or landmarks. Users will also be able to check the view of these certain landmarks in various weather, as well as busy traffic conditions.
Some users, who have already got the update of Immersive View, are able to view cities like London and Berlin using the above-mentioned perspectives.
We note that Google strives to deliver an enhanced mapping experience with the Immersive View feature. This, in turn, is expected to boost the adoption rate of Google Maps in the days ahead.
Apart from the latest move, Google is reportedly testing a web sidebar to provide quick access to recently viewed places. This, in turn, will prevent users from re-searching for their previously viewed locations, which will be accessible via the sidebar.
The addition of a widget to Google Maps that updates information on nearby traffic at the user’s current location remains a positive.
Google is making efforts to show estimated toll prices for planned routes on Google Maps to users of Android and iOS.
All these endeavors will continue to help Google build momentum among its users. This, in turn, is likely to get reflected in the performance of the Google Services segment, which will benefit Alphabet’s overall financial performance.
Google Services generated $67.84 billion revenues in fourth-quarter 2022, accounting for 89.2% of the total revenues.
Strengthening financial performance will aid GOOGL in winning investors’ confidence in the near term. Shares of GOOGL have moved down 25.6% over the past year compared with the Computer and Technology sector’s decline of 15.3%.
Rising Competition
With growing Maps initiatives, Alphabet ups the competition for Apple (AAPL - Free Report) , which is a notable player in the digital map space.
Apple, which has lost 6.7% in the past year, is witnessing solid momentum among customers on the back of its location-showing services.
Apple’s web mapping service, Apple Maps, provides directions and an estimated arrival time for driving, walking, cycling and public transportation navigation.
Recently, Apple made an announcement regarding a major update to Apple Maps. The update will add new photos, buttons and promotions to the app’s business pages.
Further, the company is gaining from the global expansion of Apple Maps. Recently, it rolled out the application in five countries — Netherlands, Belgium, Liechtenstein, Luxembourg and Switzerland.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Image: Bigstock
Alphabet (GOOGL) Bolsters Google Maps With Immersive View
Alphabet’s (GOOGL - Free Report) division Google is consistently working toward adding innovative features to Google Maps.
Reportedly, the ‘Immersive View’ feature of Google Maps, introduced in 2022, is now rolling out widely.
The underlined feature combines picturesque views of a city, its landmarks, suggestions of places and views of the insides of some buildings, all together giving a new angle to explore the city.
It also provides night views of certain locations or landmarks. Users will also be able to check the view of these certain landmarks in various weather, as well as busy traffic conditions.
Some users, who have already got the update of Immersive View, are able to view cities like London and Berlin using the above-mentioned perspectives.
We note that Google strives to deliver an enhanced mapping experience with the Immersive View feature. This, in turn, is expected to boost the adoption rate of Google Maps in the days ahead.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Google Maps Initiatives
Apart from the latest move, Google is reportedly testing a web sidebar to provide quick access to recently viewed places. This, in turn, will prevent users from re-searching for their previously viewed locations, which will be accessible via the sidebar.
The addition of a widget to Google Maps that updates information on nearby traffic at the user’s current location remains a positive.
Google is making efforts to show estimated toll prices for planned routes on Google Maps to users of Android and iOS.
All these endeavors will continue to help Google build momentum among its users. This, in turn, is likely to get reflected in the performance of the Google Services segment, which will benefit Alphabet’s overall financial performance.
Google Services generated $67.84 billion revenues in fourth-quarter 2022, accounting for 89.2% of the total revenues.
Strengthening financial performance will aid GOOGL in winning investors’ confidence in the near term. Shares of GOOGL have moved down 25.6% over the past year compared with the Computer and Technology sector’s decline of 15.3%.
Rising Competition
With growing Maps initiatives, Alphabet ups the competition for Apple (AAPL - Free Report) , which is a notable player in the digital map space.
Apple, which has lost 6.7% in the past year, is witnessing solid momentum among customers on the back of its location-showing services.
Apple’s web mapping service, Apple Maps, provides directions and an estimated arrival time for driving, walking, cycling and public transportation navigation.
Recently, Apple made an announcement regarding a major update to Apple Maps. The update will add new photos, buttons and promotions to the app’s business pages.
Further, the company is gaining from the global expansion of Apple Maps. Recently, it rolled out the application in five countries — Netherlands, Belgium, Liechtenstein, Luxembourg and Switzerland.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks (ANET - Free Report) and Analog Devices (ADI - Free Report) . Arista Networks sports a Zacks Rank #1 (Strong Buy) and Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have gained 23.7% in the past year. The long-term earnings growth rate for ANET is projected at 14.17%.
Analog Devices shares have gained 13.1% in the past year. The long-term earnings growth rate for ADI is projected at 12.25%.