Alphabet’s (GOOGL - Free Report) division Google is leaving no stone unturned to fortify its presence further on the back of its innovative technologies.
The company has unveiled a number of new features on its search engine namely Featured Videos, Activity Card, Collections, Enhancing Topics, Discover, Image Search, Google Lens and Pathways. Further, it has introduced Discover feed specific preferences for the languages and additional related content features.
These updates are aimed at enhancing the search results by modifying the feed content, giving direct access to videos related to search topics, providing images with tags and the comfort of selecting language specific to search topics.
Additionally, Google is improving job search results by providing information on training programs depending on the type of job being searched and its availability.
All these endeavors are likely to increase traffic on the company’s search platform which in turn will help the company in sustaining its dominant position in the search world.
Coming to price performance, shares of Google have returned 12% on a year-to-date basis against the industry’s decline of 8.7%.
Increasing Search Initiatives
Notably, the global search market holds immense potential for growth in the long haul, thanks to the increasing penetration of internet usage worldwide.
Google’s continued efforts to deliver better search experience to the users will aid it to getting the best out of this potential market.
Recently, the company rolled out a new search engine called Dataset Search to cater to the needs of scientists and data journalists primarily. Dataset Search will allow the scientific community to access data on weather, environment, social sciences and many more aspects which are not publically available but required for their research works.
Apart from this, the company’s search portfolio contains Google Scholar, which is a search engine especially for academic studies.
Further, the company has updated its Chrome browser which enables the users sign in automatically if they are using any Google services. Moreover, the latest update will sync bookmarks, browsing history and saved passwords if the user signs in on a different computer.
We believe the company’s strong endeavors toward innovation of its search segment will continue to aid its momentum in the market.
Reportedly, Google underwent 200K experiments last year and brought in 2,500 changes in its search engine.
All these will aid top-line growth of Google’s search business which is the most significant unit of the company.
Google’s vast search platform and strengthening artificial intelligence (AI) skills will continue to aid its competitive position in the rapidly growing worldwide search market against the other tech companies like Microsoft (MSFT - Free Report) , Baidu (BIDU - Free Report) , Yandex (YNDX - Free Report) and Yahoo.
Per the latest report from StatCounter Global Stats, the shares of Microsoft’s Bing, Baidu, Yandex and Yahoo in the global search engine market are pegged at 3.2%, 1.4%, 0.6% and 2.5%, respectively, as of August 2018.
Meanwhile, Google’s market share stands at 90.9% which is way ahead of its peers.
However, growing litigation issues and privacy concerns among people worldwide regarding vast personal data stored on Google’s platform are major negatives.
Currently, Alphabet carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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