Pixel 3 Smartphone Is Google’s (GOOGL, GOOG) Answer to Apple

Less than a month after Apple unveiled its new family of iPhones, Alphabet, Inc. (Nasdaq: GOOG, GOOGL) subsidiary Google debuted its new Pixel 3 phone on Tuesday. Analysts say Apple and Google operating systems will likely continue to dominate the global smartphone market, and the Pixel 3 could be an under-the-radar contributor to Google’s “Other” segment revenue.

The Pixel 3 will come in two sizes, including a 5.5-inch standard version and a 6.3-inch XL model. The new Apple ( AAPL) iPhone Xs feature a 5.8-inch screen, and the iPhone Xs Max has a 6.5-inch screen.

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Google says the new Pixel 3s will have front speakers that are 40 percent louder than the Pixel 2’s speakers, and the OLED screen is the highest-quality screen ever featured in a Google phone.

Google also says the Pixel 3’s camera is “generations ahead of other phones,” and features a custom imaging chip that is able to enhance images. The Pixel 3 will start at $799 for the 64GB standard version and $899 for the XL 64GB. Users can also upgrade to 128GB versions for an extra $100.

In addition to the Pixel 3, Google also unveiled the Pixel Slate tablet, which succeeds last year’s Pixelbook and doubles as a laptop. Its detachable keyboard makes it similar to Apple’s iPad Pro. The Pixel Slate features front- and rear-facing 8-megapixel cameras and an updated ChromeOS interface that is catered more toward tablet users. Google said the Pixel Slate will start at $599, the keyboard at $199 and the stylus at $99.

Finally, Google announced its new Google Home Hub, which comes equipped with a built-in speaker and Google’s home assistant and is capable of performing tasks such as turning on and off lights and appliances. The Google Home Hub also comes with a visual display that shows photos and displays visual responses to search queries, such as live traffic feeds.

Morningstar analyst Ali Mogharabi says investors should expect Apple and Google to continue to dominate the smartphone operating system market.

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“We think it is likely that the two smartphone operating systems will power nearly every smartphone around the world in the long run, with Google’s apps not only on Android devices, but also among the top apps used by iOS customers,” Mogharabi says.

Morningstar has a “fairly valued” rating and $1,300 fair value estimate for GOOGL stock.

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