HomeMarket NewsAlphabet's Transformative Move Unveils 'App Mall' for Chromebook Enhancements

Alphabet’s Transformative Move Unveils ‘App Mall’ for Chromebook Enhancements

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Alphabet is making waves in the Chromebook arena with the introduction of innovative features that promise to revolutionize user experience.

The tech giant is all set to debut β€˜App Mall,’ offering a seamless platform for users to explore and access their favorite apps and games on Chromebook or ChromeOS tablet.

Moreover, App Mall will facilitate the discovery and installation of new Android apps from the Google Play Store and games through Steam and Linux development environments like Android Studio.

Anticipation for Alphabet’s latest move is soaring high, with expectations of substantial user uptake among Chromebook enthusiasts.

Alphabet Inc. Price and Consensus

Alphabet Inc. Price and Consensus

Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote

Elevating Chromebook Innovations

In addition to App Mall, Alphabet is on a relentless path to enhance the quality-of-life features in ChromeOS, including launcher updates, profile picture hiding, new settings icon, Diagnostics app cards, and app installations from Play Store, akin to Android and iOS platforms.

The company recently announced an array of feature updates for Chromebooks with the unveiling of ChromeOS 120. These updates encompass a Virtual Desk Button, Nearby Share Self-Share, and β€œMouse” settings for swift desk switching and seamless transfers between devices. The updates also grant users control over cursor speed, scrolling speed, and acceleration.

All these dynamic initiatives are strategically positioned to capitalize on the growth prospects in the global laptop market. According to an EMR report, the laptop market is poised to witness a remarkable CAGR of 4.7% between 2024 and 2032.

Furthermore, these advancements in Chromebooks are poised to fortify Alphabet’s Google Services segment, a significant growth propeller for the company. Noteworthy is the 44.2% surge in shares over the past year, outpacing the Zacks Computer & Technology sector’s growth of 46.8%.

By bolstering the Google Services segment, Alphabet is poised for enhanced financial performance in the foreseeable future.

The Zacks Consensus Estimate for 2024 total revenues stands at $286.52 billion, signaling an enticing year-over-year growth of 11.7%.

Heightened Competitive Landscape

Alphabet’s aggressive Chromebook updates are expected to bolster its competitive stance against rivals like Apple and Microsoft, both of which are actively enhancing their notebook and laptop offerings.

Apple, for instance, expanded Self Service Repair for MacBook Pro and iMac models powered by M3, granting customers access to manuals, genuine parts, and tools used at Apple Store locations. Additionally, Apple unveiled the macOS Sonoma update, boasting various enhancements over its predecessor, Venture. This free software update introduces new features like desktop widgets, screen savers, video conferencing, Safari enhancements, and optimized gaming to enrich the Mac experience.

On a different note, Microsoft is witnessing robust customer interest in its Surface Laptop 6 product line.

The Surface Laptop 6 flaunts an updated design characterized by thinner bezels, rounded display corners, and increased ports. Available in two sizes, the laptop’s smaller model features a 13.8-inch display, whereas the larger counterpart boasts a 15-inch screen. The device also features a haptic touchpad and a dedicated Copilot button.

Zacks Rank & a Hidden Gem

Presently, Alphabet holds a Zacks Rank #3 (Hold).

Within the broader technology sector, a notable stock is CrowdStrike with a Zacks Rank #1 (Strong Buy). As of now, CrowdStrike has witnessed a staggering 146.6% surge in the past year, with a promising long-term earnings growth rate of 36.07%.

Zacks Names β€œSingle Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Among these, Director of Research Sheraz Mian has picked one with the most explosive upside.

It’s a lesser-known chemical company that has surged by 65% over the past year while still being attractively priced. With insatiable demand, soaring 2022 earnings estimates, and $1.5 billion earmarked for share repurchases, retail investors might seize the opportunity at any point.

This company could potentially surpass recent Zacks’ Stocks Set to Double like Boston Beer Company, which surged by +143.0% in a little over 9 months, and NVIDIA, which skyrocketed by +175.9% in a year.

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Apple Inc. (AAPL) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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