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Alphabet (GOOGL) Boosts Pixel Offerings With Clock Redesign
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Alphabet (GOOGL - Free Report) is widely enhancing its smartphone offerings with the addition of new features to its Pixel smartphones.
In this regard, the company added a redesign to its recently updated Clock app, which displays weather forecasts after dismissing an alarm on Pixel phones.
With the new redesign, the forecast displays current conditions and temperature in a circle, followed by forecasted conditions and high/low temperatures. A dismissal button allows users to continue using their devices.
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 in the promising smartphone market presents a significant growth opportunity for Alphabet. This, in turn, will instill investor optimism in the stock
Moreover, the latest updates will likely aid the performance of the Google Services segment, which is a key growth driver of the company.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues. The Zacks Consensus Estimate for fourth-quarter 2023 Google Services revenues is pegged at $74.77 billion, indicating growth of 10.2% from the 2022 level.
Alphabet’s shares have rallied 59.1% on a year-to-date basis compared with the Zacks Computer & Technology sector’s growth of 53%.
Stiff Competition With Apple
The latest updates 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 fiscal 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 introduced a new feature in iOS 17.2, allowing iPhone 15 Pro and 15 Pro Max users to record spatial videos, allowing them to relive these memories on Apple Vision Pro, starting early next year. This innovative feature is expected to revolutionize smartphone photography.
Zacks Rank & Other Stocks to Consider
Currently, Alphabet carries a Zacks Rank #2 (Buy).
Image: Bigstock
Alphabet (GOOGL) Boosts Pixel Offerings With Clock Redesign
Alphabet (GOOGL - Free Report) is widely enhancing its smartphone offerings with the addition of new features to its Pixel smartphones.
In this regard, the company added a redesign to its recently updated Clock app, which displays weather forecasts after dismissing an alarm on Pixel phones.
With the new redesign, the forecast displays current conditions and temperature in a circle, followed by forecasted conditions and high/low temperatures. A dismissal button allows users to continue using their devices.
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 in the promising smartphone market presents a significant growth opportunity for Alphabet. This, in turn, will instill investor optimism in the stock
Moreover, the latest updates will likely aid the performance of the Google Services segment, which is a key growth driver of the company.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues. The Zacks Consensus Estimate for fourth-quarter 2023 Google Services revenues is pegged at $74.77 billion, indicating growth of 10.2% from the 2022 level.
Alphabet’s shares have rallied 59.1% on a year-to-date basis compared with the Zacks Computer & Technology sector’s growth of 53%.
Stiff Competition With Apple
The latest updates 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 fiscal 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 introduced a new feature in iOS 17.2, allowing iPhone 15 Pro and 15 Pro Max users to record spatial videos, allowing them to relive these memories on Apple Vision Pro, starting early next year. This innovative feature is expected to revolutionize smartphone photography.
Zacks Rank & Other Stocks to Consider
Currently, Alphabet carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Camtek (CAMT - Free Report) and KT (KT - Free Report) , each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Camtek shares have surged 219.3% on a year-to-date basis. The long-term earnings growth rate for CAMT is pegged at 12.26%.
Shares of KT have returned 1.4% in the year-to-date period. The long-term earnings growth rate for KT is currently projected at 6.75%.