The word has finally emerged on Google’s—or rather, Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) I/O conference, its annual developer bash that shows off all the big new developments at Google that will be making their way to customers in the near future. And what an absolute frenzy of detail it was, as it sent Alphabet stock up 4% in Wednesday’s trading.
Perhaps the biggest announcement was the revelation, of sorts, of the Pixel Fold’s existence. This is indeed a device and no longer just a rumor. In fact, those willing to drop $1,799 on the device can pre-order it right now. Preorders will be turned into shipped orders sometime in June, Google notes. The Pixel Fold, a foldable smartphone—which is an achievement in and of itself—is also the shortest and the widest phone that Google offers in the Pixel line. It also packs a Tensor G2 chip—somewhat behind the curve with everything else packing a G3—along with 12 gigs of RAM, your choice of storage sizes, a fingerprint sensor, and more.
That, however, was just one item among many Google offered up. AI was huge on Google’s listings this year, as everything from Gmail to Docs to Sheets and even Search would get some kind of AI backing. Google also showed off its PaLM 2 large language model for its AI systems, some new features for Bard, and also, the fact that Bard would no longer have a waitlist. Finally, Google also unveiled the Pixel Tablet, available today from $499.
Analysts, not surprisingly, are all in on Alphabet stock, with six Buy ratings making for a unanimous Strong Buy consensus rating. Further, Alphabet stock offers its investors 12.37% upside potential thanks to its average price target of $126.17.
