Positive reception to Pixel phone
Google has witnessed a steady rise in the stock price of its parent company Alphabet following an overwhelmingly positive response to its recently revealed Pixel smartphone, as well as a myriad of other hardware items it unveiled this month at an event in San Francisco.
Reviews for the hotly anticipated Pixel phone began surfacing last week and the verdict among practically all the top technology review sites, is that the new device could be a worthy contender to Apple’s latest iPhone offering. In terms of form and function, and at a significantly lower price point – the pixel has been coming put on top.
Not content with merely venturing into the competitive smartphone market however, Google also announced a range of other tech items, such as Google Home, which will be Google’s first foray into the emerging market of smart home appliances and the company’s answer to the Amazon Echo. Alongside this, the company also showcased its new updated Chromecast device and Google Wifi.
Alphabet pixel phone
Alphabet stock price growth
So exactly how has this positive reception affected trading? During the later part of October, Alphabet has seen its stock price rise more than 2% as the positive reception to Google’s new smartphone becomes widespread.
The positive news does not end there for those with an investment in the multi-industry conglomerate however. Alphabet is set to announce its quarterly earnings in early November, with experts predicting to see another quarter of significant revenue growth due to Google’s continued dominance in other fields, such as the web search and online advertising markets.
Alphabet forecasts
The future certainly looks bright for Google and Alphabet. Indeed, in the build-up to Google’s recent hardware unveiling, certain experts were already forecasting that the parent company’s stock would soon reach $1000 a share, and in light of the strong reception these hardware announcements have received, it is difficult to argue with them.
Whether Alphabet achieves such lofty targets will undoubtedly hinge on the success or otherwise of major brands such as the Pixel phone. It is undoubtedly true that positive pre-release reviews from experts do not necessarily translate to widespread sales success, and with its worldwide release this month, we should soon get a clearer idea of how the new smartphone will affect Alphabet’s longer term stock trajectory.
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