Dear GOOGL Stock Fans, Mark Your Calendars for May 10

  • Shares of Alphabet (GOOG, GOOGL) stock are moving higher today on some smartphone news.
  • The company will reportedly launch its Pixel Fold this June.
  • With a $1,700 price tag, this foldable phone offers various improvements users may find compelling.
GOOGL stock - Dear GOOGL Stock Fans, Mark Your Calendars for May 10

Source: IgorGolovniov /

Most investors in Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) tend to focus on the company’s core search business as the key reason to buy this stock. However, today’s impressive surge off the intraday lows in GOOGL stock appears to be tied to another intriguing catalyst.

The tech giant has reportedly set a June launch date for its foldable smartphone. Called the Pixel Fold, this smartphone is expected to cost $1,700 a pop, making it the most expensive option in Alphabet’s smartphone lineup. These facts were initially reported by CNBC, which reviewed internal documents and images from the company.

If this is the case, Alphabet appears to be making a bid to compete even more head-on with Android competitor Samsung. The company’s focus on growing its market share in other high-margin, lucrative sectors appears to be on display. Today, investors seem to like this news, with the stock making up this morning’s losses, trading in the green at the time of writing.

Let’s dive into what investors should make of this news.

GOOGL Stock Moves Higher on New Smartphone Announcement

It appears smartphone makers can’t decide what consumers want when it comes to smartphones. Thinking back to the days of old flip phones, perhaps there’s a nostalgic angle to be played here. Or, Samsung’s success with its own foldable phones could be the key driver behind this new Google phone.

Alphabet will reportedly be making some key improvements to the current foldable phone standard, with an improved and more durable hinge and a trade-in option for existing phones. This phone will also be water-resistant and pocket-sized, something consumers appear to want. This Pixel Fold is also expected to have a larger battery, which will add weight to the phone but allow users to go longer between charges.

Overall, from what’s being released thus far, this seems like an intriguing option for Android users. This is a market many in the U.S. don’t really think about as much, given Apple’s (NASDAQ:AAPL) dominance in the space. However, it’s starting to garner more attention, particularly among investors in GOOGL stock today.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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