Alphabet’s (GOOGL) Google and Samsung Electronics Co. (SSNLF) jointly launched the Android XR operating system yesterday, to compete with Apple (AAPL) and Meta (META) in the mixed-reality space. The new and advanced software, Android XR, is aptly named to include the entire spectrum of extended reality (XR) from virtual reality to augmented reality.
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The Google-Samsung will also allow other developers to use Android-XR OS to build their own hardware and apps. The Android XR features allow for immersive XR experiences of apps such as Maps and YouTube and will support smartphones and tabs like the earlier version. Android XR aims to make all things of wearable future technology a reality.
Google Intensifies Competition with Meta and Apple
The duo even unveiled a prototype of a Samsung-built headset that uses Android XR, code-named Project Moohan. Google and Samsung anticipate that the final version of the headset will be ready for sale by next year. This headset is a direct threat to Apple’s Vision Pro headset. Those who tested it say that Samsung’s headset is much lighter and expected to be less expensive than the $3,499 priced Vision Pro. The headset is able to seamlessly alter between virtual world and real world.
Furthermore, Google and Samsung are even working on smart glasses that will host Google’s generative AI model, Gemini, and will be powered by Android XR. The smart glasses will compete directly with Meta’s augmented reality glasses prototype, Orion, unveiled in September. Google tried smart glasses before but failed to catch the masses’ attention. This time around, however, Google believes that with Gemini acting as a digital assistant on the go, this product could be a hit.
Is Google a Good Stock to Buy?
Wall Street remains highly optimistic about Google stock. On TipRanks, GOOGL stock has a Strong Buy consensus rating based on 27 Buys and six Hold ratings. Also, the average Alphabet Class A price target of $209.21 implies a nearly 9% upside potential from current levels. Year-to-date, GOOGL shares have gained 37.9%.
