Alphabet GOOGL is sparing no effort in supercharging its Chromebook offerings with a slew of feature updates.
The recent unveiling of ChromeOS 120 brings forth an array of new features set to elevate the Chromebook experience for users.
Enhanced ChromeOS 120 Features
ChromeOS 120 introduces a gamut of enhancements including the Virtual Desk Button, enabling seamless switching between desks and easy creation of new ones straight from the ChromeOS Shelf.
Noteworthy updates encompass the Nearby Share Self-Share attribute, facilitating data transfers between devices linked to the same Google Account, even when the Chromebook’s screen is off. It showcases app details, installation methods, storage details, and versioning information.
Further enriching the user experience are the new “Mouse” settings, offering control over cursor speed, scrolling speed, scroll acceleration, and the ability to enable the right-click combination using alt + click, launcher + click, or Disabled.
Also, the “Customize keyboard keys” page allows users to handpick shortcuts for various actions, including delete, page down/up, end, home, insert, in addition to enabling F11 and F12 via predefined key combos.
These enhancements are projected to resonate strongly with Chromebook users and bolster Alphabet’s standing in the market.
Expanding Chromebook Efforts
In tandem with ChromeOS 120, Google had recently introduced ChromeOS 117, featuring Material You and various usability improvements. Among the updates are rounded rectangles, condensed cards for Wi-Fi, Bluetooth, and notifications, a volume slider, a Live Caption button, brightness control, and much more.
Alphabet has also provided Chromebook owners and IT admins the option to extend automatic updates for a decade and enhance battery health with adaptive charging, maintaining at 80% prior to power disconnection.
The tech giant has further collaborated with policymakers and data-privacy regulators to usher in new features such as data processor mode, data controls, and camera and mic toggles on Chromebooks, enabling privacy-focused education services.
These collective advancements in the Chromebook sphere are poised to fortify Alphabet’s Google Services segment, long established as the cornerstone of the company’s growth. Alphabet’s shares have rallied by 54.2% in the last year, surpassing the Computer & Technology sector’s growth of 45.1%.
The strengthening of the Google Services segment is anticipated to underpin Alphabet’s overall financial performance ahead, with the Zacks Consensus Estimate for 2024 total revenues standing at $283.39 billion, reflecting a 11.26% year-over-year growth.
The consensus mark for 2024 earnings is pegged at $6.74 per share, indicating a 15.6% year-over-year growth, with the estimate revised upward by 0.7% in the last 30 days.
Facing the Fierce Competition
Alphabet’s push to advance Chromebook updates comes amid stiff competition from industry giants such as Apple AAPL and Microsoft MSFT, both of whom are aggressively enhancing their notebook and laptop offerings.
Apple’s introduction of M3, M3 Pro, and M3 Max mark a significant leap in personal computer chips, featuring advanced 3-nanometer process technology, delivering enhanced performance and capabilities for Mac. This exemplifies Apple’s substantial strides since the debut of the M1 family.
Likewise, Microsoft’s unveiling of the Surface Laptop Go 3, a 2-in-1 portable laptop equipped with 12th-Gen Alder Lake mobile architecture for efficient multi-tasking, running on the Intel Core i5-1235U processor with 10 cores and 12 threads configuration, stands as a noteworthy milestone.
The launch of Surface Laptop Studio 2 by Microsoft, positioned as the first Microsoft laptop with a dedicated VPU AI accelerator, showcasing Windows 11 Copilot functionality, expanded port selection, and extended battery life, adds further momentum to the competitive landscape.
Concluding Remarks
Presently, Alphabet holds a Zacks Rank #2 (Buy). Another top-ranked stock in the broader technology sector is Camtek CAMT, boasting a Zacks Rank #1 (Strong Buy). The long-term earnings growth rate for CAMT is projected at 12.26%, with a staggering return of 182.3% over the past year.
It’s critical for Alphabet to maintain its innovative edge in the Chromebook domain amid the fierce competition. With its formidable strides and continuous evolution, Alphabet is set to amplify its presence and drive significant value for its investors.
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Written by Zacks Investment Research