Alphabet 's GOOGL division Google is firing on all cylinders to expand presence in the world of electronic gadgets on the back of its innovative skills and advanced technologies.
The search giant has unveiled three innovative devices - Pixel 3 smartphone, Home Hub and Pixel Slate tablet at its mega event on Tuesday.
The latest device launches have aided the company enhance its product offerings and broaden portfolio. Further, these will help Google to rapidly penetrate the growing smartphone, smart speaker and tablet markets.
Coming to the price performance, shares of Alphabet have returned 8.7% on a year-to-date basis against the industry
's decline of 16%.
Pixel 3 Features to Aid Smartphone Presence
Google has made its new Pixel phones more technically advanced and user friendly. With its latest Pixel launch, the company, for the first time, has introduced a phone with a bigger screen that gives visibility from one edge to another.
Further, the artificial intelligence (AI) backed smart camera comes with a host of characteristics like low-light flexibility, close-up shots and warning feature in case of poor shot. These features will help the company in enhancing picture quality and camera experience. Moreover, the company has added dual lens in its front camera which will allow more people to fit in selfies.
Additionally, the updated phone enables the users to know the purpose of a call before receiving it just by using their voice command via Google Assistant. This provides the flexibility of rejecting or accepting a call accordingly. Further, there is a new chip called Titan in Pixel 3 phones that helps in the storage of keys for sensitive and confidential data in the phone.
All these useful and advanced features will aid Google in catering to an ever-increasing demand for smartphones in this data driven world, thanks to the growing proliferation of internet usage.
Moreover, the updated version of Pixel phones is likely to strengthen the company's competitive position against the likes of Apple AAPL and Samsung which are currently enjoying an increasing market share.
Further, Google's strategy to keep prices lower than that of iPhones and higher end phones of Samsung is likely to aid its market share.
Alphabet Inc. Revenue (TTM)
Alphabet Inc. Revenue (TTM) | Alphabet Inc. Quote
Gaining Competitive Edge in Smart Speaker & Tablet Market
Google has been gaining traction in the rapidly growing global smart speaker market over the past few quarters.
Google Home Hub is the company's latest smart speaker which comes with a 7-inch display screen along with the other features available in the Home and Home Mini devices. The display screen will show the responses for questions asked like weather update, calendars, food recipes and many more.
This provides it a competitive edge against the likes of Amazon AMZN and Facebook which are also leaving no stone unturned to bolster presence in the smart speaker space.
Recently, Facebook has launched Portal and Portal+ smart speakers with smart display which supports video chat with smart lens feature and inbuilt Alexa voice assistant.
Further, Amazon has made Echo Show 2 devices available in the market which has a display screen that supports video chat and also displays the answers for the questions asked.
However, Google's Home Hub lacks the video chat facility since there is no camera inbuilt but its high security features along with a lower price in comparison with that of Amazon and Facebook's devices are likely to bolster market share.
Moreover, Google's Google Pixel Slate tablet comes with AI backed cameras, powerful speakers and supports high-end Intel CPUs, which fortifies its competitive position against the likes of Apple's iPad Pro and Microsoft's MSFT Surface Pro devices.
We believe all the above mentioned endeavors of Google will help it to better serve its customers which in turn will strengthen customer base. This in turn will drive the company's top-line growth.
Currently, Alphabet carries a Zacks Ranks #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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