Less than a month after Apple’s Wonderlust event, another tech behemoth – Google.Inc – shall host its Made by Google 2023 event on 4th October (Wednesday), at 2pm (GMT). The event shall be broadcast live on the Google Store website and its official channel.
In this event, participants are expected to witness some new Pixel hardware, including Google Pixel 8 and Google Pixel 8 Pro. Similarities between these two smartphones include Tensor G3 chipset performance, 120Hz refresh rate and usage of Android 14 software. Their differences are in display sizes (6.17 inches vs 6.7 inches), ultrawide camera sensor (12MP vs 64MP), colour and prices (rumored to be priced at $699 for Pixel 8 and $999 for Pixel 8 Pro).
Throughout nearly 7 years of history in smartphone making, Google has faced stiff competition in gaining a slice of market share, in which over 50% is occupied by Apple and Samsung. Nevertheless, the company reigned in the highest ever market share in Japan recently, following strong sales of the mid-range Pixel 6a, flagship Pixel 7 and Pixel 7 Pro, as well as withdrawal of several local manufacturers from the Japanese smartphone market. Its Japan shipments hit an ATH share of 34% in the brand’s overall global shipment.
In addition, the second-gen Pixel watch may also be introduced in the event. There was a report stating that the new watch’s frame may come in a lighter-weighed aluminium instead of stainless steel, resulting in a weight of 26 grams (versus previously 36 grams) without the band. The watch will also come with a new “Fitbit Coach” feature, which aims to provide similar insight into workout routines and fitness level. In general, users may expect to see a massive improvement in terms of performance and efficiency compared to the watch’s predecessor, following the usage of a better processor (Snapdragon W5 Gen 1 chip) and improved battery life (306mAh versus previously 294mAh).
Prospects for the smartwatch industry remain bright. Increasing health consciousness, changing lifestyles and readiness for technology adoption in lifestyle solutions have increased global demand for wearable technology. A study has shown that the smartwatch market size in terms of shipment volume is expected to hit 456.89 million units in 5 years, at CAGR of 27.78%. While North America remains the largest market, countries from Asia Pacific (especially China) will be the fastest growing market in the near future.
Technical Analysis:
The #Alphabet share price has been traded within an ascending wedge since the latter half of 2023. The latest HH is seen at $139.92, a new high since April last year. This point, together with the upper line of ascending wedge, form a strong resistance after $136 (FR 78.6% extended from the highs in Feb 2022 to the lows in November 2022). On the other hand, the lower line of the wedge serves as the nearest support, followed by the 100-day SMA which intersects with $125 (FR 61.8%), and $117 (FR 50.0%). MACD line crosses below 0.
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Larince Zhang
Market Analyst
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