Keeping pace with its efforts to make life easier for users, Alphabet Inc.’s (GOOGL - Free Report) division, Google recently added a series of new features to Google Maps, in order to make commute a hassle-free process.
The company recently announced that it has included a new tab, Commute, to Google maps. This tab will give users an access to traffic and transit information in real time, helping them to reach their destination on time. Also, the feature will suggest alternative routes to users in case of traffic jams or accidents, thus saving time.
In addition, Google has added a special feature for users who prefer to commute via public transport system. This feature will provide details such as departure and arrival of trains, along with the location of bus or train in real time.
In this regard, Google has partnered with Transport New South Wales in Sydney, in order to help users live track the location of buses and trains. The company is expected to roll this feature across 80 regions in the world over the coming weeks.
With Google taking interest in this segment, competition has further heated up in this segment. As of now, the features have been rolled out in select regions. Google might expand the service to other regions as well.
This recent move should further cement its dominance in the navigation industry over Apple and help it to scoop up a higher market share, thus benefitting the company’s financials.
It will further boost investors’ confidence in the stock, which has outperformed the industry on a year-to-date basis.
Alphabet’s shares have returned 14.6% in the past 12 months against the industry’s decline of 7.7%.
Google Maps Gaining Traction
Google is leaving no stone unturned to fortify its presence on the back of innovative technologies. The company’s innovative efforts to improvise Google Maps will continue to benefit its market share.
Per a recent research report, Google Maps is by far the most popular navigation app. Nearly 70% of smartphone owners use Google Maps most frequently. With the introduction of new and innovative features in the same, it is set to maintain its leading position.
The company recently announced that Google Maps has added a new group planning feature, both on Android and iOS, enabling users to collaborate with friends to plan events or a night out. This is also expected to expand its user base and boost advertising revenues.
Google Maps, which is immensely popular and widely used all over the world, will enhance the company’s services portfolio owing to the above-mentioned update.
Zacks Rank and Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the technology sector are eXp World Holdings, Inc. (EXPI - Free Report) , ANGI Homeservices Inc. (ANGI - Free Report) and Internap Corporation (INAP - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for eXp World Holdings, ANGI Homeservices and Internap Corporation is currently projected to be 10%, 25% and 2%, respectively.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>