Yahoo Finance Alphabet (GOOGL) Adds Features to Upgrade Wear OS Google Camera
Alphabet’s GOOGL division Google is consistently introducing innovative features to the Wear OS to strengthen its footprint in the wearable space.
Reportedly, GOOGL updated Google Camera for Wear OS with a Material You redesign. This serves as a testament to the above-mentioned fact.
The recent redesign shows a hamburger button at the top of the screen. Users can tap on it to get the rear or front-facing camera or enable the ‘3-sec timer’ option.
Moreover, the shutter button is at the bottom of the screen to let users clearly see the subject before taking the picture.
Courtesy of this recent breakthrough, Alphabet aims to provide an enhanced experience to smartwatch users.
This is likely to expand GOGGL’s reach among its target consumers, thereby driving top line in the days ahead.
Evidently, this will help Alphabet win the confidence of investors in the near and the long term.
Shares of GOOGL have been down 17% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 20.9%.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
GOOGL Ups the Ante Against AAPL & GRMN
Riding on this latest move, Google ups its game against Apple AAPL and Garmin GRMN, which are also making concerted efforts to deliver an improved user experience.
Recently, Apple introduced to bring a built-in camera in Apple Watch Series 8, which will be fitted in the smartwatch’s digital crown. The capability will let users point at an object and take a snap of it. AAPL has lost 1.9% in the year-to-date period.
Users of Garmin Forerunner 255 and 955 smartwatches can take a picture by controlling the phone camera shutter option from their smartwatch. GRMN users can do so with the phone app named Camera Remote Watch, which they can avail from the iPhone App Store or Google Play Store. GRMN’s shares have been down 27.2% in the same time frame.
Google Solidifies Smartwatch Efforts
Nevertheless, Google’s growing efforts to strengthen its Wear OS are expected to continuously gain a competitive edge over its peers.
Apart from the latest move, Alphabet is preparing to provide streaming support to its customers using the YouTube Music app for Wear OS.
GOOGL added Google Maps to Wear OS watches. Also, its deepening focus on improving battery life and health features of smartwatches holds promise.
Alphabetrecently ended the quest for its long-awaited smartwatch by introducing Google Pixel Watch at its I/O developer conference. The watch runs on Wear OS software and is powered by Fitbit’s technology.
The above-mentioned endeavors are expected to help GOOGL expand its presence in the booming smartwatch market.
The underlined market is witnessing significant growth on the rising adoption of smartwatches, as it offers numerous customer requirements like time schedules, fitness tracking, music and other features in a single device.
Per a Facts and Factors report, theglobal smartwatch market is expected to hit $97.5 billion by 2028, witnessing a CAGR of 21.5% from 2022 to 2028.
Zacks Rank & Stock to Consider
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). Investors interested in the broader technology sector can consider ASE Technology ASX, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ASE Technology has lost 19.9% in the year-to-date period. The long-term earnings growth rate for ASX is currently projected at 23.1%.
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