From Nasdaq: 2024-05-20 13:12:00

Alphabet’s Google is enhancing its Android offerings with a Material You redesign for the Google Password Manager app. The update features a new bottom bar, search bar, and profile switcher, along with a “Checkup” tab for password scans. This move is expected to drive growth in the global password manager market, projected to hit $7.32 billion by 2029. Alphabet’s Android efforts also include new notification features, a location-sharing hub, and improvements to YouTube and Google Wallet on Android, which will bolster the company’s Google Services segment. Furthermore, Alphabet’s financial outlook remains strong, with a Zacks Rank #1 and projected revenue and earnings growth for 2024.

In addition to the Android updates, Alphabet is also unveiling a new notifications feature in Google Contacts, a dedicated page for location-sharing services, enhancements to YouTube’s user interface, and a new feature in Google Wallet. These efforts are expected to support the growth of Alphabet’s Google Services segment, as demonstrated by the segment’s strong performance in the first quarter of 2024. The company’s shares have surged 26% year-to-date, outpacing the Computer & Technology sector’s growth. With a Zacks Consensus Estimate for 2024 total revenues of $295.53 billion and earnings of $7.61 per share, Alphabet’s expanding Android initiatives are likely to drive its financial performance in the near term. Other top-ranked stocks in the technology sector include Dell Technologies, CrowdStrike, and Intuit, each carrying a Zacks Rank #2 and showing positive growth potential in the market.



Read more at Nasdaq: Alphabet (GOOGL) Aids Android Users With Password Manager Update