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Alphabet (GOOGL) to Bring AI Capabilities to Android Auto
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Alphabet (GOOGL - Free Report) announced that it is working on enhancing its Android Auto system with the “Assistant summarize your busy conversations” feature.
This AI-induced feature will enable Google Assistant to summarize busy conversations, reducing disruption caused by excessive reading of messages.
This feature can be turned on/off in Android Auto Settings and can be accessed through the Developer options on Android devices.
However, an official launch date for this feature has not been confirmed.
Alphabet is expected to gain significant popularity among car owners using the Android platform with the upcoming launch.
Per a Fortune Business Insights report, the global AI market size is expected to reach $2.02 trillion by 2030, exhibiting a CAGR of 21.6% between 2023 and 2030. The latest announcement is in sync with Alphabet’s growing efforts to integrate AI into its products and services. Moreover, its growing AI efforts have been the key catalyst.
The company’s shares have rallied 59.1% on a year-to-date basis compared with the Zacks Computer & Technology sector’s growth of 53%.
Recently, Google introduced AI-powered features to Google Photos, including Stacks, which reduces clutter and automatically organizes similar photos using visual similarity signals, enhancing user experience and efficiency in photo organization.
Google unveiled two AI-aided short creation features to YouTube, namely Dream Screen and YouTube Create, enhancing the user experience for creators on smartphones.
It also announced the potential release of AI-powered insights for YouTube Studio, which will be tailored to each channel and based on current audience activity.
All the above-mentioned efforts are expected to boost Alphabet’s presence in the promising AI market, which, in turn, will instill investor optimism in the stock.
Android in Focus
The launch will be instrumental to Alphabet’s expanding Android offerings.
Apart from it, Alphabet recently added an Individual Contact Android widget to Google Contacts, with various configurations including a profile image, calling and messaging shortcuts, and contact names.
Alphabet’s Google updated more than 20 first-party apps for large screens, enhancing Android tablet users' experience with features like dual-column User Interface and leveraged search results.
Google also introduced new features to its Google Messages app, including a "plus" shortcut, Gallery and Magic Compose, a new Gallery icon and a plus menu. Additionally, voice messages now have a separate button and a new contact page UI.
All the above-mentioned endeavors are expected to bolster the Google Services segment that accounts for the majority of GOOGL’s 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.
The strengthening Google Services segment is expected to aid its overall financial performance in the days ahead.
The consensus mark for fourth-quarter 2023 total revenues is pegged at $70.59 billion, indicating year-over-year growth of 11.8%.
Zacks Rank & Other Stocks to Consider
Currently, Alphabet carries a Zacks Rank #2 (Buy).
Image: Bigstock
Alphabet (GOOGL) to Bring AI Capabilities to Android Auto
Alphabet (GOOGL - Free Report) announced that it is working on enhancing its Android Auto system with the “Assistant summarize your busy conversations” feature.
This AI-induced feature will enable Google Assistant to summarize busy conversations, reducing disruption caused by excessive reading of messages.
This feature can be turned on/off in Android Auto Settings and can be accessed through the Developer options on Android devices.
However, an official launch date for this feature has not been confirmed.
Alphabet is expected to gain significant popularity among car owners using the Android platform with the upcoming launch.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Focus on AI to Benefit Google
Per a Fortune Business Insights report, the global AI market size is expected to reach $2.02 trillion by 2030, exhibiting a CAGR of 21.6% between 2023 and 2030. The latest announcement is in sync with Alphabet’s growing efforts to integrate AI into its products and services. Moreover, its growing AI efforts have been the key catalyst.
The company’s shares have rallied 59.1% on a year-to-date basis compared with the Zacks Computer & Technology sector’s growth of 53%.
Recently, Google introduced AI-powered features to Google Photos, including Stacks, which reduces clutter and automatically organizes similar photos using visual similarity signals, enhancing user experience and efficiency in photo organization.
Google unveiled two AI-aided short creation features to YouTube, namely Dream Screen and YouTube Create, enhancing the user experience for creators on smartphones.
It also announced the potential release of AI-powered insights for YouTube Studio, which will be tailored to each channel and based on current audience activity.
All the above-mentioned efforts are expected to boost Alphabet’s presence in the promising AI market, which, in turn, will instill investor optimism in the stock.
Android in Focus
The launch will be instrumental to Alphabet’s expanding Android offerings.
Apart from it, Alphabet recently added an Individual Contact Android widget to Google Contacts, with various configurations including a profile image, calling and messaging shortcuts, and contact names.
Alphabet’s Google updated more than 20 first-party apps for large screens, enhancing Android tablet users' experience with features like dual-column User Interface and leveraged search results.
Google also introduced new features to its Google Messages app, including a "plus" shortcut, Gallery and Magic Compose, a new Gallery icon and a plus menu. Additionally, voice messages now have a separate button and a new contact page UI.
All the above-mentioned endeavors are expected to bolster the Google Services segment that accounts for the majority of GOOGL’s 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.
The strengthening Google Services segment is expected to aid its overall financial performance in the days ahead.
The consensus mark for fourth-quarter 2023 total revenues is pegged at $70.59 billion, indicating year-over-year growth of 11.8%.
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) , KT (KT - Free Report) and Everbridge (EVBG - Free Report) , each carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Camtek shares have returned 220.4% 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%.
Shares of Everbridge have lost 17% in the year-to-date period. The long-term earnings growth rate for EVBG is currently projected at 47.04%.