We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alphabet (GOOGL) Enhances Pixel Offerings With New Releases
Read MoreHide Full Article
Alphabet (GOOGL - Free Report) is widely enhancing its smartphone offerings with the addition of new features to its Pixel smartphones.
The company’s latest addition of the Pixel Diagnostic App and repair manuals in English holds testimony to the aforesaid fact.
Notably, the Pixel Diagnostic App allows for pre and post-repair diagnostics for all Pixel devices, categorized by visual, sensor, connectivity, camera, audio, screen, others, outer display and defects.
Further, Google’s release of English repair manuals for Pixel Fold, 8 and 8 Pro in the United States provides step-by-step instructions for assembling and disassembling devices. Google plans to upload more manuals for previous and future devices in the future.
Alphabet is expected to gain solid traction across smartphone users on the back of its latest move. This, in turn, will strengthen its footing in the global smartphone market space.
Per a Mordor Intelligence report, the smartphone market volume is expected to hit 1.45 billion units in 2023 and grow to 1.78 billion units by 2028, witnessing a CAGR of 4.1% between 2023 and 2028.
Solidifying prospects of Alphabet in the promising smartphone market will likely instill investor optimism in the stock.
Alphabet has gained 50.3% on a year-to-date basis compared with the industry’s growth of 51.5%.
Moreover, strength in its smartphone offerings will likely aid the performance of the Google Services segment, which constitutes the majority of total revenues.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
Stiff Competition With Apple
The latest launches are expected to aid Alphabet in competing well with Apple (AAPL - Free Report) , which is riding on solid momentum in the iPhone series.
For fourth-quarter 2023, iPhone sales increased 2.8% from the year-ago quarter to $43.805 billion and accounted for 48.9% of total sales.
Notably, Apple is enhancing its capabilities for the newly launched iPhone 15 series with new feature updates.
Recently, it added a Journal app to the iPhone 15 Pro and iPhone 15 Pro Max that encourages gratitude through journaling and improves wellbeing. It allows users to capture everyday moments and events, with on-device machine learning providing personalized suggestions and customizable notifications.
Additionally, Apple announced that it is expanding Self Service Repair by launching a new diagnostic tool for the iPhone 15 lineup that gives users more transparency and autonomy to troubleshoot issues.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Image: Bigstock
Alphabet (GOOGL) Enhances Pixel Offerings With New Releases
Alphabet (GOOGL - Free Report) is widely enhancing its smartphone offerings with the addition of new features to its Pixel smartphones.
The company’s latest addition of the Pixel Diagnostic App and repair manuals in English holds testimony to the aforesaid fact.
Notably, the Pixel Diagnostic App allows for pre and post-repair diagnostics for all Pixel devices, categorized by visual, sensor, connectivity, camera, audio, screen, others, outer display and defects.
Further, Google’s release of English repair manuals for Pixel Fold, 8 and 8 Pro in the United States provides step-by-step instructions for assembling and disassembling devices. Google plans to upload more manuals for previous and future devices in the future.
Alphabet is expected to gain solid traction across smartphone users on the back of its latest move. This, in turn, will strengthen its footing in the global smartphone market space.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growth Prospects
Per a Mordor Intelligence report, the smartphone market volume is expected to hit 1.45 billion units in 2023 and grow to 1.78 billion units by 2028, witnessing a CAGR of 4.1% between 2023 and 2028.
Solidifying prospects of Alphabet in the promising smartphone market will likely instill investor optimism in the stock.
Alphabet has gained 50.3% on a year-to-date basis compared with the industry’s growth of 51.5%.
Moreover, strength in its smartphone offerings will likely aid the performance of the Google Services segment, which constitutes the majority of total revenues.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
Stiff Competition With Apple
The latest launches are expected to aid Alphabet in competing well with Apple (AAPL - Free Report) , which is riding on solid momentum in the iPhone series.
For fourth-quarter 2023, iPhone sales increased 2.8% from the year-ago quarter to $43.805 billion and accounted for 48.9% of total sales.
Notably, Apple is enhancing its capabilities for the newly launched iPhone 15 series with new feature updates.
Recently, it added a Journal app to the iPhone 15 Pro and iPhone 15 Pro Max that encourages gratitude through journaling and improves wellbeing. It allows users to capture everyday moments and events, with on-device machine learning providing personalized suggestions and customizable notifications.
Additionally, Apple announced that it is expanding Self Service Repair by launching a new diagnostic tool for the iPhone 15 lineup that gives users more transparency and autonomy to troubleshoot issues.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter (BMI - Free Report) and Flex (FLEX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 31.1% in the year-to-date period. BMI’s long-term earnings growth rate is 20.39%.
Flex shares have gained 34.6% in the year-to-date period. The long-term earnings growth rate for FLEX is currently projected at 12.39%.