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Google’s new Pixel 6 phone: What it means for investors

Google’s new Pixel 6 phone: What it means for investors
Business
After months of leaks to and anticipation from the tech community, Alphabet (GOOGL) unveiled its latest smartphones, the Pixel 6 and Pixel 6 Pro.

They’ll be available on all the major U.S. carriers. They’re currently available for preorder and will start shipping on Oct. 28.

As always, Google fights in a sector dominated by Apple (AAPL) and Samsung SSNLF. So investors and users can reasonably ask: What do its new phone entrants mean for me?

Here are a few things to note about Alphabet’s latest devices:

Alphabet is clearly gunning for market share here with such aggressive pricing. And the subscription service is attractive given the recurring-revenue potential for the tech giant.

Although it’s going to take a lot for the company to move the needle and become more competitive in the smartphone industry, investors should be confident that Alphabet has clearly created its best devices yet.

It’s worth noting that Alphabet’s Android mobile operating system is the worldwide leader, yet the company hasn’t quite been able to achieve the same success with its smartphones.

While it remains to be seen just how big the Pixel 6 and Pixel 6 Pro will become, the Google Store website on Tuesday crashed for several hours, which might be a sign of strong demand for the handsets.

Alphabet will report its Q3 earnings on Oct. 26 after the market close, so look out for any updates from management about preorder numbers for the Pixel 6 and Pixel 6 Pro phones.

The internet-search, advertising and cloud powerhouse crushed its Q2 estimates and could deliver another strong quarter given the rebound in advertising spending from companies worldwide.

The consensus Q3 earnings-per-share estimate for Alphabet is $23.75, derived from a FactSet survey of analysts. That would represent 43 per cent year-over-year growth. Analysts are looking for revenue of $63..47 billion.
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